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Leasing Companies in Bulgaria at the end of 2019

22.02.2020 Written by Tanushev

Leasing companies in Bulgaria at the end of 2019

On February 17, 2019, the Bulgarian National Bank published the data for the Leasing market in Bulgaria in 2019. The BNB press release can be read here. In a series of articles, we will share some more interesting additional findings of the published data. First, let’s look at the changes in the number of operating leasingleasing companies in Bulgaria:

leasing companies in Bulgaria at the end of 2019

The Bulgarian leasing market started in 2019 with 49 leasing companies performing financial leasing and reporting to the BNB. This number does not include companies which the BNB does not oversee – companies specializing in operating leasing, car rental services, fleet management, equipment leasing, and real estate leasing. During the year, three of the leasing companies were deregistered by the BNB:

  • A leasing company operating since 2009 Euroleasing MO EOOD was deregistered in July due to the termination of its activity as a financial institution;
  • A leasing company with assets of about BGN 6M (2018) – part of the Sofia France Auto Group (Peugeot) – Sofia France Auto Okasion EOOD was deregistered by the BNB due to a decline in the leasing activity and a decrease in the ratio of leasing activity to the main activity of the company. The company was specialized in the leasing of used cars;
  • A relatively old leasing company – Finance Leasing EOOD, was deregistered by the BNB in ​​September due to non-compliance with the capital requirements of Regulation 26. Finance Leasing EOOD has around BGN 26M (2017) assets.

In parallel with the deregistration, the BNB also registered two new promising leasing companies.

  • BBR Leasing EAD, which is a specialized leasing company of the state-owned Bulgarian Development Bank (BDB). BBR Leasing was created on the initiative of Stoyan Mavrodiev – Chief Executive Officer of BDB. BBR Leasing focuses its efforts on Bulgarian companies to increase production, accelerate growth and create the conditions for technological renewal. The company was registered by the BNB as a non-banking financial institution in May, making Bulgaria one of the few countries in the world with a state-owned leasing company.
  • Master Lease Ltd is the second leasing company registered by the BNB in ​​June 2019. The company is part of the BM Leasing group and specializes in leasing used cars without any age restriction.

Thus, at the end of 2019, leasing companies in Bulgaria, which specialize in financial leasing and are registered with the BNB, decrease by one and by the end of the year they are 48.

Data used:

Read other articles for the development of the Bulgarian leasing market in 2019:

 

Analysis of the Bulgarian leasing market, Bulgarian leasing companies, Leasing Market