Moscow, 21 July 2008. Today JSC VTB Leasing announces its financial performance for Q1 2008 based on International Financial Reporting Standards (IFRS).
Results of Q1 2008 give JSC VTB Leasing sound reasons to announce that its business is developing robustly and that the company retains and further confirms its leadership position in the Russian market for leasing services.
Consolidated leasing portfolio including both transactions of JSC VTB Leasing and its subsidiary companies as of end Q1 2008 exceeded US$ 6.6 billion.
In compliance with the approved conceptual program for development of the company's operations in Russian regions and in the CIS countries, JSC VTB Leasing incorporated and started operations of its subsidiary company in the Republic of Armenia in March 2008.
In Q1 2008 JSC VTB Leasing had the largest increases of its portfolio in the following industries: aircraft (an increase of US$ 240 million), oil production and oil refining equipment (growth of US$ 42 million), machine-building equipment (growth of US$ 29 million), equipment for the utilities industry (an increase of US$ 12 million), construction machinery and equipment (US$ 2 million) and road construction machinery (US$ 2 million).
"In Q1 2008 we saw strong growth of our business in key market segments. The bulk of our transactions in Q1 was in the aircraft leasing sector: our Company is actively developing this area of leasing services; our aircraft leasing offering is unique in the Russian market for leasing services", said Mr. Anton Borisevich, CEO of JSC VTB Leasing.