UniCredit closed deals for over EUR 80 mio during the reviewed period

UniCredit Leasing became number one in terms of new business volumes and market share, information from the Bulgarian Leasing Association (BLA) for the first half of 2009 shows. During the reviewed period UniCredit Leasing has closed deals amounting to EUR 81.1 mio, which corresponds to 26% market share, BLA routine market survey showed. The biggest share in UCL’s new business is accounted for by automobile leasing, followed by trucks and equipment leasing.

According to statistical data most clients are small and medium-sized companies.

Despite its stable performance and leading position by two of the most important indicators in the lease companies’ ranking, UCL’s insiders admit worsening of the economic environment as a result of the world crisis impacting Bulgarian business. “At best, by the end of this year we could expect as new lease business the same volumes as between January-June. At the end of the year I expect a decrease on an annual basis in the range of 60%-65%. Now the purpose of the lease companies is rather to manage portfolios and improve portfolio quality than an imprudent or unreasonable new business”, said Plamen Minev, Chief Executive Director of UniCredit Leasing.

He defined as priority for the second half of 2009 the continuous efforts for improvement of the assets’ quality, wise risk management and development of the strategy already assumed by UniCredit Leasing and defined as “from volumes to value”. The strategy “from volumes to value” was taken up by UniCredit Leasing at the end of 2008, as a way to create value added for the customers despite the negative financial situation which requires more attention to risk assessment.

In order to meet the challenges of internationalization and to create competitive advantages, UniCredit Leasing also took up a client-center approach as a winning principle in support to the growth of customer business and of the company itself.

Contact persons:

Victoria Blajeva, Public Relations and Corporate Communications, UniCredit Bulbank tel: 02/9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Svilena Jotolova, Public Relations and Corporate Communications, UniCredit Bulbank tel:

Tel: 02/9765 123, twjmfob/ekpupmpwbAvojdsfejumfbtjoh/ch