BELGRADE (Serbia), June 2 (SeeNews) – Serbian finance leasing companies' pre-tax profit fell 6.1% on the year to 815 million dinars ($12.07 million/8.36 million euro) through March, the country's central bank said on Thursday.
The finance leasing companies raised their combined revenue by 2.1% on the year to 2.39 billion dinars in the first quarter, the central bank, NBS, said in a report on its website.
The companies cut their expenditures by 38.5% on the year to 1.57 billion dinars over the review period.
Freight vehicles, minibuses and buses had the highest share of 38.2% in the financial structure of investment of leased products followed by passenger vehicles which comprised 24.3%.
Production equipment finance leasing accounted for 12.5%, construction equipment had a 6.9% share and agricultural equipment financing comprised 6.4%. A breakdown of the remaining 11.7% was unavailable.
The assets of Serbian finance leasing companies fell to 88.7 billion dinars at the end of March from 98.8 billion at the end of December of 2010.
There were 17 finance leasing companies operating in Serbia at the end of March, 11 of which were wholly or majority-owned by foreign firms. The top three in terms of assets were Hypo Alpe-Adria Leasing, NLB Leasing and Raiffeisen Leasing.
(1 euro = 97.5407 Serbian dinars)