State Transport Leasing Company predicts a decline in the transport leasing market by 15% in 2024 – Kommersant
[ad_1]
The leasing market in Russia in 2024 will fall by 15% for all types of transport, and in corporate segments the reduction could be even 30%, according to the forecast of the State Transport Leasing Company. Among the reasons for the fall in leasing volumes, the forecast names the average size of the key rate and the volatility of the ruble.
The STLC forecast states that the average key rate of 12%, indicated by the Central Bank in the latest medium-term forecast, together with the volatility of the national currency, could lead in 2024 to the freezing of companies’ investment plans and the “collapse” of corporate segments of the leasing market.
“In particular, this will most likely affect the leasing market for aviation, sea and river transport – key segments for State Transport Leasing Company. We expect the leasing market to decline by up to 15% overall, and in corporate segments by up to 30%,” says the State Transport Leasing Company’s forecast. In this regard, the company did not rule out revising its investment plan for 2024.
An increase in the key rate “has a significant impact on the operation of the Russian leasing market.” In 2022, as noted by State Transport Leasing Company, an increase in the key rate was the main factor in the decline in the leasing market. “So, after the rate increase, the volume of new business in the first half of the year fell by 19%, in the corporate segment by 30%,” the company reported.
Leasing companies are heavily dependent on bank lending, the cost of which is most often tied to the key rate. Accordingly, it becomes more expensive to attract funds to order them at domestic facilities.
State Transport Leasing Company is the largest leasing company in Russia. It is managed by the Ministry of Transport and the Ministry of Finance. For the first half of last year, State Transport Leasing Company received 26.352 billion rubles. net loss. For the first six months of this year – 1.062 billion rubles. net profit.
Read more in the Kommersant article. “GTLK is ready to pay off”.
[ad_2]
Source link
