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WestLeasing Starts Operating under Rietumu Leasing Brand

01-Jun-2015 / Products & Services A group of leasing companies in Belarus WestLeasing has been providing services under the new brand – Rietumu Leasing – since May 2015.

The name change was the final stage of reorganization of this leasing group being a part of a holding of the Rietumu Bank.

Rietumu actively provides services in Belarus market for over 20 years, including many years in leasing industry. In 2008, Rietumu acquired a 50% equity share in WestLeasing therefore becoming a co-owner, and in June 2013 — an absolute owner of the group.

Over those seven years, owing to credit facilities provided by Rietumu Bank, WestLeasing financed and leased to Belarusian companies 2,150 facilities in the amount of 152 million US dollars.

According to member of the Board of Rietumu Renats Lokomets: "We always highly appreciate the potential and prospects of Belarusian market. The country is at its stage of technical upgrade in production, a number of companies grows, their products are in demand and competitive on the world markets. We are always happy to cooperate with Belarusian businessmen, who are invariably characterized by high professionalism, responsibility and decency. Therefore, we plan to further promote the business in Republic of Belarus and offer its companies a wide range of high quality financial services".

Owing to cooperation with Rietumu, Belarusian exporters of goods and services being WestLeasing clients enjoy certain preferences in foreign currency payments on the territory of Republic of Belarus, as well as benefits on surrender of forex proceeds. Active use of Rietumu bank instruments in implementing complex leasing projects with elements of foreign economic activity allows significantly reducing the cost of leasing for Belarusian enterprises.

"By making a choice in favor of our company, customers give us an assessment as a reliable financial partner that is especially important in today's macroeconomic situation. Leasing group activity is an important component of a comprehensive financial servicing rendered by Rietumu in Belarus and allows our customers to make use of both leasing and classical banking services on favorable terms. Changing the brand name is a logical step, which emphasizes the link with this European bank, its interest in the Belarusian market and desire to strengthen cooperation with local entrepreneurs", Director of Rietumu Leasing Andrejs Orlovs reported.

Rietumu Leasing Group specializes in leasing of trucks, commercial and passenger vehicles; construction machinery, equipment, and real estate. Rietumu Leasing occupies a strong position in the top list of leading leasing companies of Belarus.

Rietumu Bank and Rietumu Leasing regularly and actively participate in Latvian-Belarusian investment forums held in Riga and Minsk.

Eleonora Gailisha
Mass Media and Public Relations
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E-mail: egailisha@rietumu.lv
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