All articles by Antonio Fabrizio
Antonio Fabrizio
Brussels Watch: Ireland may prove fertile for new lenders
New funders are entering the market gaps left by the departure of existing operators, including in the motor finance sector, writes Antonio Fabrizio. The dramatic bailout of the Irish banking system reflects a tough year in the countrys leasing market Sources claim Irish lessors wrote virtually no new business in 2010, and banks are declining the vast majority of requests for finance, especially when it comes to SMEs.
Czech market outlook for 2011
The expectation in the Czech market is that this year will be better than last. Deutsche Leasing predicts that the tool machinery market will stabilise, while agriculture, printing and packaging will rise The outlook for Czech leasing is linked to the strength of demand from markets such as China and Europe, and particularly Germany.
PV sites face bankruptcy
Renewable energy leasing is one of the assets which have been dealt a blow by recent legislative changes. The sector had boomed in the past couple of years, thanks to a mix of legislative incentives and reduction in solar equipment costs Last year, UniCredit Leasing financed one of the largest solar power plants in the Czech Republic for a total5.1m.
Credit, factoring and CCD dent leasing
Czech leasing companies are expected to continue to offer more credit and factoring as they diversify their product offerings during 2011. A total of 27 CLFA members provided loans and other non-leasing financial products amounting to CZK 18.37bn in the first nine months of 2010, up by 10.3% from the same period a year earlier
VB Leasing sets up
The German-Austrian lessor already had a relationship with the Japanese carmaker in Austria and is now extending the partnership to cover all Toyota dealerships across the country. Toyota Austria managing director Dr Friedrich Frey said: “We have found the perfect partner with VB Leasing for a long-term partnership.
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Siemens FS buys Russian lessor
Siemens Financial Services has bought Russian lessor DeltaLeasing from US Russia Investment Fund managed by Delta Private Equity Partners The move is part of Siemens FSs strategy to position itself as a significant operator in Russian asset finance Roland Chalons-Browne, SFS chief executive, said: We are expanding our network as an international service provider and complementing our equipment finance business in an important emerging market
New hires at law firm WFW
International law firm Watson, Farley & Williams (WFW) has expanded its asset finance expertise with a number of key appointments. Rex Rosales and Siva Subramaniam have been hired as partners for its transportation finance business, together with three new associates, all joining from Reed Smith. Rosales, who has experience in rail and aviation finance, has represented banks and leasing companies in a wide range of asset-based financing structures
GE Capital finances UK firms
GE Capital has seen a boom in its invoice finance business recently, including two agreements providing more than £15m of working capital facilities to UK firms. The company provided invoice discounting, inventory and plant and machinery loans for a total of £8.35m to Expamet Building Products, a UK producer of plasterers accessories and builders metalwork. In a separate deal, it provided £7m to plastisol and vinyl base manufacturer Speciality Coatings to support the companys growth plans.
Wilkins up at Aldermore
Aldermore has created a new asset-based finance division led by Ian Wilkins, group managing director, asset finance and invoice finance. The UK bank has grown asset-based lending quickly this year, helped in part by the acquisitions of Heritable Asset Finance in March and Absolute Invoice Finance (AIF) in January
Porfolio purchase for Hitachi Capital Vehicle Solutions
Hitachi Capital Vehicle Solutions has bought the business and assets of UK rental company Newtown Vehicle Rentals which went into administration on December 2. Dominic Wong, joint administrator from Deloitte, said: NVR has historically been a profitable and growing business with robust revenues and a high quality customer base