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Bulgaria's Elana Agrocredit financing of land purchases shrinks y/y in July

Bulgaria's Elana Agrocredit financing of land purchases shrinks y/y in July Photo: Elana Agrocredit / All rights reserved.

SOFIA (Bulgaria), August 12 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:EAC] signed deals to finance purchases of agricultural land worth some 262,700 levs ($157,600/134,300 euro) in July, compared with 976,200 levs in the same month of 2020.

Elana Agrocredit financed the purchase of 28.9 ha of land last month, compared with 79.6 ha in July 2020, the company said in a monthly bulletin.

The financial leasing company typically finances 80% of the value of the purchases.

Elana Agrocredit's net profit edged down to 1.6 million levs in the first half of 2021 from 1.7 million levs in the same period of last year, as revenue fell to 2.7 million levs from 3.6 million levs, according to the company's most recent financial statement.

(1 euro = 1.95583 levs)

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