Allianz Leasing Bulgaria expects profit to rise by over 10
percent this year, according to its managing director, Stoycho
Despite the financial crisis, which is squeezing lessors’
margins, Krastev believes the company can still grow.
“Our portfolio will grow, let’s say, by some 10 percent [in
2009] and the profit will surely be over 10 percent,” he said.
The lessor, which is part of Germany’s Allianz AG, saw its
portfolio grow some 118 percent last year, to reach BGN170 million
(€87 million), with a pre-tax profit of BGN3 million.
Acquired by Allianz Bulgaria Holding and Vienna-based VHO
Holding in 2007, the lessor has grown into a universal leasing
company, and is now “constantly winning share from its rivals”,
according to Krastev.
Allianz Leasing Bulgaria ranks third for operating leasing and
seventh for financial leasing in Bulgaria, according to the
Bulgarian Leasing Association, which includes 22 other members.
“We maintain a steady pace in assets leasing,” he said, adding
that the company was also benefitting from competitors tightening
their leasing criteria in the last few months.