VUB Leasing recorded a 14% increase in business last year

Bratislava, March 26, 2009 – Last year, VÚB Leasing, a.s. signed 4,333 new leasing contracts in the amount of € 184 mil., representing a 14 % increase on y/y basis. Compared to 2007, its net consolidated profit rose by 34% to € 3.1 mil. The General Meeting held on March 23, 2009 approved financial statements of the company.

“Increase in total amount of new leasing contracts significantly contributed to the improved performance of the company. Compared to global leasing market which grew by 6.7%, VUB Leasing´s growth pace doubled,“ said Martin Rajec, the Chief Executive Officer of VÚB Leasing.

Integration of the company into VUB Group, which became its major shareholder in December 2007, was the main target the company had been pursuing last year. “We have successfully accomplished major portion of the integration activities. Today, we actually leverage the benefits of having access to broader client portfolio through VUB´s Corporate Branches, lower finance costs, Bank’s experience in risk management and centralized purchase process,“ stated Mr. Rajec.

The General Meeting appointed Mr. Tomislav Lazaric, a member of the VUB Management Board, and Deputy to CEO, a new Chairman of the VUB Leasing’s Supervisory Board. In addition, the General Meeting approved profit distribution and dividend payout in the total amount of € 2.7 mil.

VUB Leasing is the sixth largest leasing player in Slovakia. According to the data provided by the Slovak Association of Leasing Companies, VUB Leasing was the leading provider of property leasings. VUB is a 70% - shareholder of VUB Leasing, which renders its services through 12 own and 32 VUB’s corporate branches. This represents the broadest network of specialized banking sales points for SMEs.

Information for media:
Alena Walterová
Spokeperson and Head of the Press Dept.
Tel.: +421-2-5055 2130
E-mail: awalterova@vub.sk

Michal Kopecky
PR Specialist
Tel.: +421-2-5055 2424
E-mail: mkopecky@vub.sk