Leasing in Tyumen: consequences of sanctions, revival and complete abandonment

Reducing the key rate to 14% revived the leasing market, but some local entrepreneurs had to completely abandon such services

After the reduction of the key rate, entrepreneurs of the Tyumen region became more interested in leasing services. Earlier, the Central Bank raised the key rate to 20%, which hit the demand for this service hard: there were problems with logistics and financing. At the end of April, the department announced a reduction in the rate to 14%. Experts spoke about how this affected leasing in the RBC Tyumen region.

Olga Khvan, Deputy General Director of TALK Leasing, explained that logistics and a sharp decrease in the supply of leased items became the primary problems. 

“Immediately after the announcement of sanctions, the market stalled, many transactions were stopped, there was a shortage of leasing items, logistical problems, the issue of financing arose - cheap solutions simply evaporated. We felt the impact of the sanctions immediately: for a while, the volume of requests dropped significantly; narrowed, and later the sales funnels were adjusted. It was like a “time of silence”: the business froze not only in anticipation of the consequences of
the imposed sanctions, but, above all, support measures from the state,” Khwang explained to RBC Tyumen.

Oleg Ishimov, head of sales of the Ural division of Alfa-Leasing Group of Companies, notes that there was no decline in interest in leasing services among local entrepreneurs, but a sharp reduction in supply on the market had a strong impact on relations between leasing companies and their clients. 

“We noted not so much a decline in interest in leasing among entrepreneurs, but a shortage and a sharp rise in the cost of equipment. Some leasing companies have revised rates for their current clients in line with the key rate of the Central Bank of the Russian Federation. Naturally, this had a negative impact on customer relationships and future transactions. For some entrepreneurs, a multiple increase in the rate means the exclusion of leasing from possible options for financing a business,” Oleg Ishimov commented to RBC Tyumen.

Olga Khvan added that the decrease in the key has significantly increased the interest among entrepreneurs in leasing services. First of all, requests come from the agro-industry. 

“Today, taking into account the reduction of the key rate to 14 points, we are finally seeing a noticeable recovery. It is important to note that such strategically important sectors as, for example, agriculture, were among the first to receive support and important guarantees, respectively, requests from entrepreneurs
from this area began to act in the first place. As for forecasts, it is clear that demand will spur development. Explosive growth of the leasing market, which was predicted at the end of last year, unfortunately, is not to be expected, but the fact that the market is recovering is a fact. It is also important to take into account the fact that no matter how the circumstances develop, leasing remains one of the most
effective investment products, and the demand for its services will remain,” concluded Olga Khvan.