Transcript Asociatia Societatilor Financiare

Asociatia Societatilor Financiare - ALB Romania
The Financial Companies Association – ALB Romania
Piaţa de leasing financiar în România
Financial Leasing Market in Romania
30.09.2012
Antoaneta Curteanu
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
Presedinte al Asociatiei Societatilor
Financiare - ALB Romania
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Industria de leasing in Europa 2012 / Leasing Industry in Europe 2012
Mediu de afaceri aflat in schimbare , provizioane in crestere/ Changing landscape,
provisions affects profitability
Facts & Figures*:
Threats:
 Q2 new leasing volumes of €19 billion vs €21.4 billion Q2.2011
 Operating income and operating expenses decrease slightly
(2.1% and 1.8% respectively)
 Loan loss provisions suffered its highest increase so far, rising
by 53% in Q2 2012
 The average annualized cost of risk increased to 0.8%
 ROA decreased to 0.8% - compared with 2011 ROA of 1.0%
 ROE decreased from an average of 17.1% in 2011 to 14.6% in
Q2 2012




The cost of funding is expect to increase
slightly
Changing financial market regulations
The risk of fraud has substantially
increased
Basel III liquidity provisions
* Comparison with the same period last year
Leaseurope Quarterly index 2012
2012 Q2
2012 Q1
Sum of values (€ millions)
% change versus Q2 2011
Sum of values (€ millions)
% change versus Q1 2011
1,901
911
-2.1%
-1.8%
1,993
960
-0.8%
0.4%
Loan loss provision
498
52.6%
378
20.7%
Pre-tax Profit
480
-32.7%
665
-9.3%
237,311
1.1%
226,802
2.9%
19,046
-10.9%
15,982
-7.1%
Operating income
Operating expenses
Portfolio at end of period
New business volumes
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Economia Romaneasca 2012/Romanian economy 2012
In cautarea echilibrului/ Looking for right proportion
Structure of the investments in the main areas
1.30%
Industry
26.30%
37.90%
Agriculture
Trade/Services
Construction
30.30%
Others
4.20%
ECONOMIC ACTIVITY
GDP (EUR bn)
Population (mn)
GDP per capita (EUR)
Real Economy yoy (%)
GDP
Private Consumption
Fixed Investment
Public Consumption
Exports
Imports
Monthly wage, nominal (EUR)
Unemployment rate (%)
 Industrial production was 0.6% higher yoy as at Jul.2012,
because of the increases in energy supply (+8.1%).
Decreases were registered in manufacturing (-0.4%) and
in mining and quarrying (-0.1%).
 Construction works increased 4.6% yoy, mainly generated
by new constructions (+13.4%). On types, mainly the
engineering constructions (i.e. infrastructure) met an
upward trend of + 17.1%, while residential works dropped
14.1%.
 Investments in Romanian economy increased by 20% yoy
at Jun.12, with investments on Transport equipment and
means up 24.5% and in Construction works up by 18%.
(INSSE - Monthly Statistical Bulletin Jul.12)
2009
118.3
21.5
5501
2010
124.1
21.5
5774
2011f
136.5
21.4
6379
2012f
135.8
21.4
6347
2013f
140.1
19.0
7373
2014f
143.5
19.0
7553
-6.6
-9.2
-25.3
1.2
-5.5
-20.6
326
6.9
-1.7
-2.0
-13.1
-3.2
13.1
11.6
334
7.3
2.5
0.7
6.4
-3.5
9.9
10.5
346
7.4
0.5
-0.7
3.2
0.2
-0.3
-0.3
350
7.3
1.3
0.4
-1.1
0.5
3.4
2.8
360
7.0
1.6
1.0
0.8
0.4
5.7
4.3
372
6.5
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Septembrie 2012 - Piata de leasing financiar din Romania / Leasing Market Romania
Contributie importanta a segmentului auto / Important contribution of Vehicles in total
3%
Real – Estate
71%
Vehicle Financing
Finantarea Vehiculelor
€979
million
Finantarea bunurilor
imobiliare
26%
Equipment
Finantarea echipamentelor
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Evolutia pietei de leasing financiar (cresteri anuale)/Financial Leasing Market
Evolution (annual growth rates)
Evolutie constanta pastrand proportiile anului trecut / Steady evolution
maintaining last year pace
€ million
4,170
3,449
+47%
2,339
1,079
1,008
780
979
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Piata de Leasing Financiar in Romania - ponderea segementelor in total finantari
Romanian Financial Leasing Market - Weight per Good Segment
Finantarile de Real Estate in leasing ating un mimin istoric/ Dramatic drop in real estate
sector
2.339
3.449
4.170
1.079
780
1.008
979
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Piata de leasing financiar din Romania dupa categoria utilizatorului
Romanian Financial Leasing Market Structure by Customer Type
Beneficiarii traditionali ai produsului leasing – “ Companiile” / The most important Lessee
is represented by “ Companies”
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Piata de leasing din Romania (echipamente si vehicule) dupa tipul achizitiei
Romanian Leasing Market (Equipment and Vehicles) Structure by Acquisition Type
Finantarile de vehicule SH diminuate de vanzarile cash si de apetitul de risc al companiilor de
leasing/ Second Hand Leasing financing reduced due to the cash sales and lower risk appetite
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Piata de Leasing Financiar din Romania dupa durata contractului
Romanian Financial Leasing Market Structure by Duration of Contract
Interes in crestere pentru finantarile pe termen scurt si mediu / Increasing
preference for short and medium term contracts
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Piata de leasing financiar din Romania - finantarea vehiculelor/ Romanian Financial Leasing
Market - Vehicle Financing
Ponderea segmentului de autoturisme creste accelerat atingand maximul ultimilor 4 ani / Weight of
passenger cars segment surged to its highest level in the last 4 years
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Piata de leasing din Romania - finantarea echipamentelor
Romanian Leasing Market - Equipment Financing
Industria Metalurgica si Constructiile cresc semnificativ /
Metal Processing and Constructions record fastest increase
Agricultura / Agriculture
Constructii / Construction
Electronice / Electrical devices
Industria Alimentara/Food & bevarage
Ehipamente Medicale/ Medical Equipments
Industria Chimica/ Chemical Industry
Industria Metalurgica/ Metal Processing
Office + IT
Car Service / Car Services
Stivuitoare / Forklift
Ind. Prelucrarii lemnului / Wood procesing
Mobilier/ Furniture
Plastic and Rubber / Plastics & Rubber
Industria petroliera / Pentrolium & derivates
Echipamente de printat / Printing & Packaging
Altele / Others
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Impactul cadrului legislativ asupra industriei de leasing
The impact of the legislative frame on leasing industry

Draft regulation regarding certain conditions applicable to the lending activity (released by
NBR, currently in consultation). The new restrictions applicable to SME lending/leasing in
foreign currencies should be more appropriately assessed prior to the enforcement, in
order to determine whether they are economically feasible.

The impact on certain products of a number of “creative” solutions enforced under the
New Civil Code are being assessed. One may wonder what was the real intention of the
Parliament when establishing that:
o
the court may decide to return to the lessee a part of the leasing payments, after the
leasing agreement is terminated as a consequence of lessee’s default;
o
the pledge set up by a supplier over an expensive equipment, in order to secure the
lender, vanishes right when the equipment is sold to the end user ...

Starting with March 2011, new norms to Fiscal Code were enforced, stipulating that
leasing companies should self charge VAT payment in case of cancelled contracts where the
assets are not repossessed. As a consequence of the discussions with Bruxelles, this provision
shall be repealed effective as from January 1st, 2013.
Nevertheless, the Ministry of Finance’s intend is to use the VAT adjustment provisions in order
to apply an even more brutal Vat treatment to leasing companies
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Impactul pozitiv al Industriei Leasingului asupra economiei
The benefits of Leasing Industry over economy:
1.
2.
3.
4.
Enabler of business investments
Valuable and price competitive alternative to
loan finance
A means to support the sale of the
manufacturers of the assets
Valuable, low risk form product
For SMEs in particular:
 The ability of SMEs to access finance is
important for funding business investment,
ensuring business reach their growth potential,
and for facilitating new business start-ups;
 SMEs are not able to raise money directly in
the capital markets– mainly dependent on
traditional bank financing, which is itself
limited
by
constraints
due
to
banks’
refinancing capacity, their risk appetite and
capital adequacy
 Leasing is a possibility for SMEs to expand
their access to short – and medium – term
financing
 Leasing is an alternative mechanism to
facilitate access to finance, even more in the
current market environment.
 Leasing can serve as a helpful financing tool
for SMEs which provides financing close to the
investment periods of the leased assets.
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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Policymakers
support for leasing industry can help to
mitigate market weaknesses and to enhance the access to
finance for small and big contributors to the state budget.
Thank you!
Source/Sursa: ASOCIATIA SOCIETATILOR FINANCIARE – ALB ROMANIA
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