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ČSOB riding investment boom

THE LEASING company of the Česko-Slovenská Obchodná Banka (ČSOB) financial group achieved a 36 per cent increase in contracts and a 60 per cent jump in volume last year. Turnover at acquisition prices and without value-added tax (VAT) rose to Sk5.65 billion in 2001, compared to Sk3.52 billion in 2000. The company estimates a 2001 net profit of Sk100 million.

The firm's director, Daniel Kollár, called the result "the highest turnover in the history of the company." Kollár also pointed out that ČSOB's turnover grew faster than the turnover of the total leasing market for the second consecutive year.

Leasing of passenger and small commercial vehicles accounted for 47 per cent of turnover, while trucks made up 38 per cent, and equipment and machinery accounted for 15 per cent. Truck and equipment leasing both increased by nearly 90 per cent last year, said Kollár, who ascribes the increase to a general boom in capital investments in Slovakia. The company plans a 10 per cent increase in turnover in 2002.

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