Articles in category Financial Services (Leasing)
"I assure you we do not plan to overregulate, but to issue norms that should ensure the stability of this market", Isarescu explained to the leasing market representatives.
The central bank governor argued that the leasing operations must be regulated so as to provide sustainable development to this activity.
He believes, however, that the level of the intermediation via non-banking financial institutions and banking institutions is not sufficiently developed in Romania, being well below the European average as well as the average in former communist countries.
The moves that the BNR plans to make are aimed at keeping financial stability as well as fair and non-discriminatory competition, Isarescu stressed.
State Secretary at the Public Finance Ministry, Catalin Doica, said the non-banking financial system has seen a spectacular expansion at the same time with an increase in the bank lending and hence the need to establish regulations that imply monitoring and surveillance.
Until recently, the Romanian practice did not use this hiring model.
The first company to offer such services was Mansoon Outsoucing, that was introduced on the Romanian human resources market by its Hungarian clients OTP Bank and Magyar Telekom, that turned to it for leasing services when they opened their Romanian subsidiaries.
In Hungary, Mansoon Outsourcing offers human resources services, staff leasing included, for Pannon GSM, Vodafone, Raiffeisen Bank, Budapest Bank and another about 350 clients.
"The profit margin is rather low, it's the amount that counts. From 40 - 50 employees upwards, one starts making profits," said the manager of the Romanian branch of Mansoon Outsourcing, Levente Gönczy.
The outlays for the setting up of the company's Romanian branch stood at 60,000 euros.
In Hungary, the company registered last year revenues of two million euros and expects 4.2 million euros in 2006.
"For Romania, we planned to lease 100 staff this year and to increase this figure to 300 in 2007," said Gönczy.
So far, the company's clients sought call-centre staff and staff specialised in credit back-office activities.
