INTERVIEW: VEB Leasing sees new business volume at 104 bln rbl in 2017
MOSCOW, Dec 27 (PRIME) -- New business of Russian leasing company VEB Leasing will exceed 104 billion rubles in 2017, up from the planned amount of 82 billion rubles, acting CEO of the company Yury Gaichenya told PRIME in an interview released on Thursday.
УThe year of 2017 was the year of transformation for us. We had to spend a significant amount of time to solve problems with toxic assets, and weТve generally managed to do it. We laid the basis for growth for several coming years. In 2017, the volume of new business of VEB Leasing will exceed 104 billion rubles, while our plan that was drafted in the middle of the year stipulated the figure of no more than 82 billion rubles. WeТve over-fulfilled the plan,Ф he said.
Research agency Expert RA said the companyТs new business stood at 56 billion rubles and the leasing portfolio at 345 billion rubles in JanuaryЦSeptember.
УIn 2016, when the new team came to VEB Leasing, we launched a review of assets that we had. WeТve concluded that we had a large amount of toxic cases in our portfolio. We had different options to solve these bad situations, and we discussed sales of some assets, like car leasing assets at a discount. But we built the system and created a normal and transparent business, so we received a working product eventually, which will give us 33 billion rubles of new deals this year,Ф he said.
УA single client accounted for 80% of our whole portfolio of railroad assets, and the client defaulted. We withdrew the rolling stock almost immediately and rented it out, so we launched operations leasing of rail cars with a good and diversified client base.Ф
The company plans to finish restructuring processes in 2018 and to receive a net profit in the year.
УWe plan to create new business of at least 113 billion rubles in 2018, to finish the toxic asset restructuring processes, and to attain a net profit. We have no goal to become the largest leasing company in the country, we already are one of the largest companies. Our goal is to contribute to the development of the country as best as we can,Ф he said.
УWe separated four leasing directions in the company Ц the aviation, railroad, ship and naval equipment, and car leasing directions. Ship and naval equipment spent the year refinancing and preserving the current portfolio. I am sure that this segment will show growth next year.Ф
(57.7343 rubles Ц U.S. $1)