The company saw its sales rise by 60% last year, but initially targeted revenue doubling against 2013. BCR Leasing managed to halt portfolio erosion, though, and managed assets posted a slight 2% increase in 2014. In 2013, assets had dropped by 21%. BCR group’s leasing assets stood at RON671 million in December.
The company’s sales were supported by BCR’s branch network, through which 55% of funding was granted. Nonetheless, BCR group representatives specify funding released through partnerships with car and equipment dealers and importers also contributed to revenue growth, with volumes on this segment doubling against 2014.
“Moves to improve assets quality and boost the company’s efficiency continued last year,” stated BCR representatives. The number of employees went down from 107 to 94. BCR Leasing underwent tough restructuring during the crisis and lost market share amid portfolio cleanup.
The leasing company’s profitability was hurt by provisions set up toward yearend to cover of exposure to large clients.
(English version by Catalina Apostoiu)