All articles by Claire Hack
Claire Hack
New European finance programme at IBM
IBM Global Financing has launched a new programme in Europe, specifically aimed at Oracle-Sun and HP customers. The programme is designed to allow easy migration to IBM Power servers and is similar to one launched in the US in September. Carmen Ene, vice president of IBM Global Financing for north-east Europe, said: There have been issues that have created a great level of uncertainty in the minds of customers.
Syscap buys Exclusive Benefits
UK-based IT finance provider Syscap has acquired the trading rights, client base and future income streams of specialist commercial funder Exclusive Benefits. Syscap CEO Philip White said: We were like-minded in terms of approach, ethos and integrity and synergistic in terms of the market served.
GRENKE looks at Turkey, Greece
Germanys GRENKE Group saw growth of 42.3% in new business during the first nine months of 2010. Volumes hit 492m, compared to 345.8m in the first nine months of 2009, and the company is expecting a total of 30% new business growth for the year, including franchise partners.
CNH profits rise as business expands
CNH Capital Europe Ltd, the captive arm of agricultural and construction equipment manufacturer Case New Holland, reported profit after tax up 11.8% to £4.24m (5.13m), in the year to 31 December 2009. Non-consolidated results for the company, a joint operation between BNP Paribas Lease Group (BPLG) and CNH Global, show a rise in gross profit of 6.3% to £6.13m. The directors report said: “The company has achieved satisfactory results in the year; has traded successfully in its chosen markets; and is expected to continue to do so.”
Finance for farmers
Funders are developing their services and working closely with farmers to develop attractive financing options Agricultural equipment is a sunny spot in a changeable and challenging market for funders
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Public finance focus for leasing
Public sector looks to leasing for best use of its money The governments Comprehensive Spending Review (CSR) could open up fertile new ground for leasing, providing that lenders can market their product effectively.
Syscap refocuses after reporting loss
Independent IT finance company Syscap has reported a loss after tax of £7.92m (9.3m) for the year to 31 March 2010
High tax bill depresses CHG-Meridian UK
The UK arm of the German technology finance group posted a loss after tax of £1.05m (1.25m) in the year to 31 December 2009, due in part to a fourfold hike in the tax bill, consolidated results show.
NHS Supply Chain sets the bar high
NHS Supply Chain has played a pivotal role in connecting lessors to NHS Trusts since its new leasing framework was rolled out in June. Cheryl Cordon, leasing manager at NHS Supply Chain, said: “We can provide indicative costs within 48 hours and complete a mini competition obtaining the best and final offer from the lenders within 10 working days.
Econocom agrees terms for ECS takeover
IT and telecoms funder Econocom has finalised agreements with French banking giant Socit Gnrale for the acquisition of IT lessor ECS.