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Bulgaria's Elana Agrocredit financing of land purchases up 66% y/y in August

Bulgaria's Elana Agrocredit financing of land purchases up 66% y/y in August Photo: Elana Agrocredit / All rights reserved.

SOFIA (Bulgaria), September 17 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:EAC] said it signed deals to finance purchases of agricultural land worth some 310,250 levs ($186,400/158,600 euro) in August, up from about 186,800 levs a year earlier.

Elana Agrocredit financed the purchase of some 28.3 ha of land in August, compared to 22.5 ha in the same month of 2020, the company said in a monthly report.

In August 2021, Elana Agrocredit signed nine deals for financing purchases of farm land.

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, according to the company's most recent interim financial statement.

(1 euro = 1.95583 levs)

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