Russia’s leasing market sets historic records

In the past nine months the business of the 100 largest Russian leasing companies has grown by 44.6% and reached almost RUR 970 bln ($14.6 bln).

“Thus, for the second year in a row, the leasing market sets historic records,” said Dmitry Grishankov, general director of RAEX rating agency, at the 17th annual conference Leasing in Russia, organized by RAEX together with the United Leasing Association.

The expert believes that it is unlikely that the market continues to grow at the same rate in 2019. He was also very optimistic about the market stability.

“In 2018, the market grew globally due to the low base effect, and in the next year its development will be based on other factors. But there will not be such a huge growth again,” Vladimir Dobrovolsky, deputy general director for client managing at the State Transport Leasing Company, said at the conference.

However, according to Sberbank Leasing general director and president of the United Leasing Association Kirill Tsaryov, it is impossible to make a full assessment of the market prospects without assessing the external risks, the so-called market shocks.

“For instance, coal prices are important for rolling stock leasing, while vehicle leasing depends on the carsharing and taxi markets,” he said.

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