Leasing share in Uzbekistan’s GDP reach 2.3%

Tashkent, Uzbekistan (UzDaily.com) -- The volume of leasing deals increased by 14.2% in 2009 and reached 401.6 billion soums, Uzbek Leasing International A.O. said in a statement.

The company said Uzbekistan Lessors Association (ULA) held a meeting in Tashkent on 11 March, which was dedicated to presenting review of leasing services for 2009 and considered proposals on further market development.

Zafar Mustafaev, ULA director-general, said economic development of Uzbekistan is driving demand for this financial service. He added that this allowed to increase share of leasing portfolio in GDP of Uzbekistan to 2.3%.

Aggregate portfolio of leasing deals made up 1.122 trillion soums in 2009, or rose by 49.4% year-on-year.

Number of lessors in Uzbekistan rose from 64 to 86, while 66.7% of them were leasing companies and 33% - commercial banks.