Leasing operations volume in Uzbekistan slightly increases in 2014
Tashkent, Uzbekistan, Feb.11
By Demir Azizov - Trend:
The total volume of leasing operations in Uzbekistan in 2014 increased by 2.6 percent compared with 2013 - up to 826.2 billion UZS, Uzbekistan Lessors Association told Trend on Feb.11.
The official exchange rate is 2.448, 16 UZS/$1 on Feb. 11.
The aggregate portfolio of leasing transactions in the country increased by 1.4 times - up to 2.139 trillion UZS during the reporting period.
Uzbek lessors concluded nearly 4, 900 transactions last year versus 6, 700 transactions a year earlier.
In 2014, the bulk of the share of leased property transactions, 34.2 percent was farm equipment, compared to 37.5 percent in 2013.
The volume of transactions on vehicle lease amounted to 27.7 percent in the overall structure of leased property (21.4 percent in 2013), manufacturing equipment - 24.4 percent (24.8 percent), real estate and property complex - 13.7 percent (16.3 percent).
Some 88 lessors, including 24 commercial banks and 64 leasing companies worked on the country's leasing market in 2014.
Uzagroleasing (267.6 billion UZS), Uzavtopromlizing (74.6 billion UZS), Uzbek Leasing International (63.7 billion UZS), Uzmeliomashlizing (25.4 billion UZS) and SIFCO International (16 billion UZS) are the biggest participants of the market among the leasing companies as of 2013.
Asaka State Joint-Stock Commercial Bank (79.4 billion UZS), Joint-Stock Commercial Mortgage Bank (26.7 billion UZS), People's Bank (22.3 billion UZS), Hamkorbank (16.4 billion UZS) and KDB (14.69 billion UZS) are among the most active commercial banks in the area of leasing services.
The customs duties on import of modern technological equipment on lease terms were abolished in Uzbekistan. The leasing payments were exempt from VAT and lessees - from taxes on leased property. The legal entities rendering leasing services were exempt from paying an income tax and a single tax payment in the area of leasing.