Expert RA: the leasing market showed double-digit growth rates in 2019 due to large transactions in the fourth quarter


The volume of new business in the Russian leasing market grew by 15% in 2019 and amounted to 1.5 trillion rubles. Such preliminary data are cited by the Expert RA rating agency with reference to its research.

Analysts explain that the market managed to return to double-digit growth rates after the weak 3rd quarter due to corporate transactions of state-owned companies, for some of which the volume of new business in October – December amounted to 40% of their annual volumes. As a result, about half of the volume of new business in the IV quarter was formed by the five largest leasing companies, without activation of which the market growth could not exceed 7%.

The increase in the number of large transactions had a positive effect on the amount of leasing agreements, which showed negative growth rates in January – September, and by the end of 2019 added 11%. The volume of the leasing portfolio (lease payments receivable) as of January 1, 2020 amounted to 4.9 trillion rubles, showing an increase of 14% over the past 12 months against 25% a year earlier.

Negative growth rates of new business were demonstrated by 28% of respondents, including 4% of top 20 leasing companies. The three leaders throughout 2019 did not change. According to the results of the year, the Sberbank Leasing company became the market leader in terms of new business, which increased by 6%. In second place is the State Transport Leasing Company, which showed the largest absolute increase in the volume of new business in the last quarter (but at the end of the year, the dynamics of the volume of new business was negative – minus 6%, according to Expert RA materials). The third position is occupied by VTB Leasing, which also, according to the agency, reduced the volume of new business in 2019 (minus 16%). In total, the share of the top three leasing companies in the volume of new business following the results of 2019 decreased to 36% from 43% a year earlier.

According to the research data, GTLK remains the largest leasing company in the Russian Federation, the volume of the leasing portfolio of which as of January 1, 2020 amounted to almost 1,098 trillion rubles.

The Expert RA study is supported by the United Leasing Association to provide information on the Russian leasing market to Leaseurope. The full results of the study, as well as the forecast for 2020 will be published by the agency in March.


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