Latest Developments in the Leasing Industry – debated during Leaseurope Conference
Crucial directions were discussed during the Leaseurope event in Vienna – “Moving Forward in a new Landscape”, and we were present to hear first-hand the opinions of the industry leaders.
The European leasing market reported 4.6% growth in 2010 in total new business volumes, with all Leaseurope member countries experiencing growth during 2010 with the exception of UK (-3%). Still, the key industry players took conservative approach until the markets open up, while being preoccupied in the impact of the crisis and what the future holds.
However, the leasing industry seems on the right track, considering the anticipated increase of 7.4% in new business in the second half of 2011, and the fact that the bad debt levels have plateaued.
The business landscape has changed fundamentally and the leasing industry faces many uncertainties. Major changes are ahead, with Basel III framework changing the financial discipline and the new lease accounting model being implemented towards 2015.
TotalSoft attended the conference to enhance its center of competence in the asset finance management, proactively improving its software solution dedicated to the Leasing Industry. Charisma Leasing Management is one of the most popular leasing solutions at European level, ranked in the worldwide Top 10 most powerful leasing software solutions by KPMG.
As major industry trends, the concentration process will continue, with only 4 European-wide players left in 2020 with more than half of the market, and the industry structure will change, with banks stepping out of the leasing business.