The assets leased by the Bulgarian leasing companies totaled 1.2 bln levs by the end of 2005, according to data of the central bank released on Thursday, February 23. The leasing companies' outstanding net lease receivables stood at 400 mln levs in late 2004, shows data of the Bulgarian Association for Leasing (BAL). This growth is fully financed with credits provided by foreign institutions, said the central bank. The leasing industry expanded by 26% in the last quarter of 2005, leasing assets worth 250 mln levs. Almost all domestic banks launched leasing divisions over the past 2 years. The outstanding net lease receivables under financial leasing contracts were reported at 1.16 bln levs or 97% of all leasing contracts. Transportation vehicles are the most frequently leased asset and account for over 60% of all leasing contracts. Outstanding net lease receivables under vehicle leasing contracts rose 8.9% on end-September to 341 mln levs by the end of the year. The outstanding net lease receivables under industrial equipment leasing contracts increased by 27.8% on end-September to 289.1 mln levs at end-2005. The outstanding net lease receivables under property leasing contracts jumped by a whopping 260% on end-September to 96.6 mln levs at end-2005.