Intesa Leasing Beograd has occupied first place in new business lending, with a market share of over 20% during the first nine months of 2020, according to a financial news report from Belgrade.
Intesa Leasing, a division of Banca Intesa Beograd, saw its portfolio climb to over €150m against a challenging 2020 including the backdrop of the coronavirus pandemic.
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Compared to the same period last year, Intesa Leasing realised 10% more contracts and achieved as much as 5% higher financed value, the report said.
Intesa Leasing
Darko Popović, chairman of the board of Intesa Leasing, said: “Thanks to the effort and work of our employees, constant investment in the development of digitalisation and business processes and with the support of Banca Intesa, we are ready for the state of emergency.
“At all times, we were available to our clients without any interruption, which contributed to Intesa Leasing being the first choice in this challenging period.
“We also signed a new credit line with the EBRD aimed at supporting small and medium enterprises in order to improve their competitiveness during and after the pandemic period.”
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By GlobalDataEBRD
Intesa Leasing recently signed its fourth credit line with the European Bank for Reconstruction and Development (EBRD) and the European Union (EU), for €10m.
Through this credit line, Intesa Leasing will offer SMEs access to finance for the purchase of construction, agricultural and production equipment and commercial vehicles to improve their competitiveness.
The Competitiveness Credit Line allows companies to recoup 15% of the total investment costs as part of the programme. Intesa Leasing and the EBRD have supported the Serbian economy with €55m through the three credit lines to date.
Banca Intesa Beograd is majority-owned by Italy’s Intesa Sanpaolo.
According to Intesa Sanpaolo’s 2019 annual report:
The Intesa Sanpaolo Group undertakes leasing transactions, as lessor, primarily through the Parent Company, Intesa Sanpaolo (following the merger by incorporation of Mediocredito Italiano), and various international subsidiaries, specifically PBZ Leasing, VUB Leasing, CIB Leasing and Intesa Leasing Beograd.
Banca Intesa Beograd, including Intesa Leasing Beograd, reported an operating margin of €167m, up 4.8% on 2018.
Operating income increased by 3.8%, primarily due to the performance of fee and commission income and other net operating income.
Operating costs increased slightly (+2.1%) compared with the previous year. Gross income amounted to €143m (+8.7%), while net income was €106m (+5.1%).
