All articles by Jason T
Jason T
SG Equipment Finance: strong second quarter in the UK offset by other regions
SG Equipment Finance (SGEF) wrote 1.9 billion of new financing in the second quarter, according to its latest results This represents a 3.6 percent dip on the lessors first quarter results, or a year-on-year fall of nearly 20 percent. Although the lessor reported that business was up 43.9 percent year-on-year in the UK, results were slightly lower in France, which saw new business decline 2.2 percent, despite a good performance by the high-tech sector.
Syscap enters videoconferencing market with Imago deal
Under the deal, Syscap will provide Imagos resellers with finance to enable their customers to lease video conferencing packages. Syscaps deal with Imago, a pan-European distributor of video communications products, marks its expansion into the video conferencing arena.
AIB u-turn: reassessing broker closure plan?
Allied Irish Bank (AIB) is reconsidering recently-announced plans that it was closing to finance brokers. According to media reports, the bank is reassessing its plans and would even re-start relationships with some, if not all, of the finance houses involved. This months issue of Leasing Life revealed that AIB had announced its closure to broker business outside of the motor sector
The Alta Group appoints Paul Piggott to EMEA team
The Alta Group has announced that 20-year international leasing veteran Paul Piggott has joined the EMEA business as an associate. Piggott, who specialises in vendor finance, has been based in South Africa for four years, where he has a track record of building high-performing vendor leasing programmes Before joining Alta, Piggott held various general management and business roles with GE Capital, Heller Vendor Financial Services, and, most recently, Key Equipment Finance, where he had overall responsibility for new and existing vendor programmes.
Repossessions on the rise as Scania FS reports operating losses in H1
Scania Financial Services has seen operating income fall to SEK -13 million (-1.3 million) during the first half of 2009, down from SEK 282 million in the same period last year. The captives customer finance portfolio amounted to SEK 44.7 billion at the end of the first half, a SEK 2.6 billion decrease since the end of 2008
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Sony FS reports 24.3% revenue growth
Sonys Financial Services segment, which includes its insurance and banking subsidiaries, reported a 24.3 percent year-on-year growth in revenue, to reach 200.5 billion (1.5 billion), in its first quarter, ending June 30 2009 Of this amount, financing activities accounted for 35.2 billion in net cash, a decrease of 90.6 billion, or 72 percent, year-on-year
Cover story – On the block
Mid-tier lessors face an uncertain future as some block discounters reduce funding lines This company is committed to the long-term support of block discounting, and in order to move forward is undertaking a full review of all customers
Major bank lessors in black at year-end 2008
Revenues up at ING Lease and Singer, profits up at BoS, SEB and Key ING Lease (UK) Limited
Straight from the horse’s mouth
Last month, the small-ticket lessor was renamed Arkle Finance, in what Richard Briscoe, the companys managing director, said was a move to distance itself from the horse racing world. Weatherbys Finance was set up in 2003 by Weatherbys Bank, the long-established family-owned horse racing bank
SocGen and BNP scoop major VF deal
Design and engineering software manufacturer Autodesk has partnered with BNP Paribas Lease Group (BPLG) and Socit Gnrale finance subsidiary Wanlease to launch Autodesk Finance across five European countries.