March 6 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:EAC] said on Monday it signed deals to finance purchases of agricultural land worth 578,680 levs ($316,022/295,874 euro) in February, against some 1.73 million levs in the same month of 2021.
Elana Agrocredit financed the purchase of about 24.8 hectares (ha) of land last month, compared to some 90.6 ha a year earlier, the company said in a monthly report.
The financial leasing business agreed just seven deals for financing purchases of farmland in February, down from 15 in the prior year. Compared to January, the company also reported a decline, in both the total land area and value of transactions.
For the 2022-2023 crop year, Elana Agrocredit has to date approved loans to clients worth a total of over 28.3 million levs.
In January, Elana Agrocredit announced that its standalone net profit rose to 2.84 million levs in 2022 from 2.72 million levs in 2021.
Shares in Elana Agrocredit closed 1.94% lower at 1.01 levs on the Sofia bourse on Monday.
(1 euro = 1.95583 levs)