High demand in the commercial vehicle leasing segment in the first quarter

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According to LLDA data, in the 1st quarter of this year, new transactions in the commercial transport segment increased by 56.6% or 25.7 million euros, while in the equipment and industrial machinery segment they increased by 32.1%, amounting to 43.1 million euros compared to last year. for the first three months – the segment of forest machinery equipment has grown particularly fast, with an increase of as much as 102% compared to the same period last year, according to the information provided by the association.

A slight decrease in the volume of new business is observed in the car leasing segment, where it decreased by 1.8% in the first quarter compared to the same period last year.

“It is gratifying to see positive developments in the commercial transport and industrial leasing segment, which are showing signs of recovery in both key sectors. In the commercial transport sector, the Covid-19 situation has The development of the leasing sector has been facilitated by those projects, the implementation of which was suspended last year, “so the head of LLDA Pēteris Plaudis comments on the indicators of the first quarter of 2021.
At the end of the first quarter, the leasing portfolio in Latvia was 1.5 billion euros, of which 951.8 million euros were financial leases, 489 million euros – operating leases and 68 million euros loans.

In total, at the end of the first quarter of this year, the leasing and factoring portfolio in Latvia reached 1.6 billion euros, which is 6.6% less than in the 1st quarter of 2020.

The Latvian Leasing Association was founded in 2000, and leasing companies have merged on a voluntary basis. LLDA members are SIA “Citadel Leasing”, SIA “Swedbank Leasing “, Ltd.”Luminor Leasing “, Ltd.”SEB līzings “, SIA” OP Finance “, AS” PrivatBank “,” LKB Līzings “and”Scania Finans AB “Latvian branch.

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