The leasing subsidiary of Austrian banking network Bawag PSK has
predicted that Austria’s total leasing revenue for 2009 will be 24
percent down year-on-year, with an annual total of €5.2 billion
expected for the industry.
At a press conference, Bawag PSK Leasing managing directors,
Alexander Schmidecker and Rudolf Fric, went on to anticipate 1.3
percent growth for Austrian lessors in 2010, and more pronounced
growth in 2011.
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“In 2011 we should have defeated the crisis,” Schmidecker
said.
Business decreases in commercial vehicle and real estate
financing were highlighted as major drivers for the year’s negative
growth while, by contrast, development of Austrian motor finance
activity was said to be “stable”.
Bawag PSK Leasing itself saw business volumes down 1 percent
year-on-year as of the end of June, but experienced a 2.3 increase
in deal numbers and an increase in market share from 4.9 percent to
7.5 percent.
For most Austrian leasing companies, the virtual collapse of
many CEE leasing markets has had a great impact on business.
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By GlobalDataHowever, Bawag PSK Leasing, with only 5 percent of its portfolio
leased in CEE territories, has been relatively unaffected by this
situation.
Fred Crawley
