Leasing defaults in Bulgaria are expected to soar in the final
quarter of this year and the first quarter of 2010, according to
the co-chairman of the Bulgarian Association for Leasing (BAL).

Teodor Marinov said: “We are now seeing a second wave of overdue
leasing that we will overcome by the second quarter of 2010.”

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The executive director of EFG Leasing, Plamen Pavlov, seconded
Marinov’s predictions, saying he expects defaults will continue to
soar, before peaking at the beginning of next year – particularly
in the construction sector and related industries.

According to recent BAL estimates, around 20 percent of leasing
contracts in the construction industry are non-performing.

In total, non-performing leasing contracts nearly doubled to
BGN688.3 million (€351.9 million) in the third quarter, from
BGN373.8 million in Q2, figures from the Bulgarian National Bank
showed.

Jason T Hesse

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.