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Bulgaria's Elana Agrocredit financing of land purchases up 26% y/y in April

Bulgaria's Elana Agrocredit financing of land purchases up 26% y/y in April Photo: Elana Agrocredit / All rights reserved.

SOFIA (Bulgaria), May 27 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:EAC] said that it signed deals to finance purchases of agricultural land worth some 341,310 levs ($212,800/174,500 euro) in April, an increase of 26% on an annual comparison basis.

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

Elana Agrocredit financed the purchase of 37.3 ha of land in the fourth month of 2021, compared to 26.8 ha in April 2020, the company said in a monthly bulletin it published on Wednesday.

Elana Agrocredit's net profit edged up to 2.9 million levs in 2020 from 2.8 million levs a year earlier, even though its revenue fell to 11.1 million levs from 12.2 million levs in 2019.

(1 euro = 1.95583 levs)

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