All articles by Fred Crawley
Fred Crawley
NACFB announces new funders
The National Association of Commercial Finance Brokers (NACFB), has announced three new Patrons First Merchant Finance, Bank of Cyprus and Helping Hands Asset Management prepared to fund meals for its members.
Close Asset Finance reports £13m profit
Close Asset Finance (CAF) has posted a profit of £13.3 million for the year leading to 31 July 2009, down 12.6 percent down on the previous year’s total of £15.2 million
Arval to provide CH for Renault and Nissan dealers
RCI Financial Services has announced that fleet management and leasing company Arval has won a tender to become its outsource partner in the provision of contract hire services to the Renault and Nissan franchised dealer network. Arval is providing a dedicated sales and customer service team to ensure a smooth transition for the Renault and Nissan dealer network and their customers and will maintain the high standards of service previously offered by RCI Financial Services, the captive added.
Bulgaria: 16 percent of lease book goes bad
Bulgaria saw overdue leasing payments rise by 14.3 percent in 2009s final quarter, from 350 million in Q3 to 402 million in Q4. This compares to a Q4 new business total of just 122 million, 13 percent higher than the previous quarter but 74 percent down year-on-year.
BNP Paribas: big-ticket leasing fuels return to health
French banking group BNP Paribas has reported a profit of 5.8 billion for 2009, up 93 percent on the previous year. BNPs results have exceeded international expectations, but still fall short of 2007s profit total of nearly 8 billion.
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Telematics leasing on the rise
The leasing of telematics equipment is on the rise with news that Ford is about to offer packages in the UK on its Transit Connect vans. The fleet tracking system, called Crew Chief, can be rolled up into a lease package or acquired directly from its manufacturer, Microlise. Crew Chief, which was launched in the United States in 2008, is due to enter the German market this year or in early 2011, and “could arrive on UK shores soon after”, a Ford spokesperson said.
UK leasing man gains recognition for work with CSG
As the leasing industry continues to push for greater visibility in the business world at large, a recent national awards ceremony has drawn positive attention to the sector. Bill Tadden of Capital Solutions Group (CSG) was named Non-Executive Director (NED) of the Year in the Unlisted Companies category of the fourth annual Non-Executive Director Awards, held in London on February 10.
IDS releases new version of ProFinia
Leasing industry software producer International Decision Systems (IDS) has announced the release of ProFinia 4.2, the latest version of the companys lease and loan portfolio management tool. ProFinia 4.2 reflects the trend for lessors to incorporate other types of lending into their product offering, with extended support for what IDS calls a comprehensive offering of loan products and related functionality. In short, this includes support for fixed rate and variable rate lending, mortgage style repayment schedules and configurable end of term loan options, among other features.
Lombard funds further lasers
RBS asset finance subsidiary Lombard has provided £75,000 in finance to a UK laser treatment company, for the acquisition of three new lasers for cosmetic surgery procedures The deal brings to £300,000 the total value of new equipment acquired by Cheadle-based Lynton Group and financed by Lombard in the last 12 months. Lynton Group, which employs 35 people, also runs its own laser manufacturing and distribution arm, which interestingly enough offers lease options on purchase of equipment.
BoS confirms end of leasing business in Ireland
Bank of Scotland has confirmed it is to shut down its asset finance activities in Ireland, despite recently announcing a focus on commercial lending, citing poor returns on intermediary business as the reason.