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Code: 51529 Visited: 150 Publish Date: Sep 04 2018 - 3:38
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Capital Market
Leasing Industry’s Acceptable Performance
Tehran, Sep. 14 (SENA) - The leasing companies have been suffering from the credit crunch in the past few years. However, after their last annual general meetings, Secretary-General of National Leasing Association of Iran Mohamadhadi Moghee described the performance of the industry as successful for the last fiscal year. As of today, 50 leasing licenses have been registered with the Central Bank of Iran, out of which 38 companies are operating. A close look at the financial statements of the companies reveals their better than expected performance.

Tehran, Sep. 14 (SENA) - The leasing companies have been suffering from the credit crunch in the past few years. However, after their last annual general meetings, Secretary-General of National Leasing Association of Iran Mohamadhadi Moghee described the performance of the industry as successful for the last fiscal year. As of today, 50 leasing licenses have been registered with the Central Bank of Iran, out of which 38 companies are operating. A close look at the financial statements of the companies reveals their better than expected performance.

The total asset value of the companies increased from 80,000 billion rials in March 2017 to 100,000 in 2018. Their operational profits also added 22% from 62,000 to 80,000 billion rials. There was a slight increase in the return on the shareholders’ equity from 21% to 23%. Moreover, their financial expenditures decreased to 8,800 from 9,000 billion rials.

Moghee emphasized that future risks for the industry include unpredicted political incidents, unruly currency fluctuation, as well as supply shortage by the manufacturers. If the risks are curbed, the industry can add 50% to its assets value for the current fiscal (Started March 20). The current economic situation has imposed credit risks on leasing companies, where many customers may default on their payments. The secretary-general concluded that in such situations, the companies should turn to durable good, second-hand autos, and general services to survive.

 
By: Security and Exchange News Agency (SENA)
 
 
 
 
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