Bulgaria's Elana Agrocredit land buy financing soars y/y in Oct

Elana Agrocredit financed the purchase of 726.9 hectares (ha) of land last month, up from 68.8 ha in the prior-year period, the company said in a regular activity report last week.

Month-on-month, the value of deals jumped by almost 50%, from roughly 9.7 million levs in September, while the financed land volume rose from an already high 604.1 ha in the ninth month of 2023.

The financial leasing company agreed 38 land purchase financing deals in October, its second busiest month this year after September, with 40. In October last year, there were 11 agreed deals.

As of 1314 CET on Friday, shares in blue-chip index member Elana Agrocredit were trading flat at 1.00 lev on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)