All articles by Liz Bury
Liz Bury
Volumes up 4.9% in Europe
European leasing volumes grew by 4.9 percent to 227 billion in 2010, up from 209 billion in 2009, the latest figures from Leaseurope show Equipment leasing rose by 2.1 percent, and vehicle leasing rebounded by 5.9 percent during the year
Super-brokers predicted to rise
Super-brokers are expected to emerge as a power bloc within asset finance, but not for at least 7 to 12 years Factors such as cost benefits and the age profile of an industry drawing closer to retirement are likely to drive the growth of bigger groups and franchises. Mark Picken, ING vice president, speaking at the National Association of Commercial Finance brokers asset finance seminar in London on Tuesday (1 March 20111), said: The days of the super broker is still 7 to 12 years away
Fraud rocks KBC Lease in UK
UK asset finance has been abuzz with speculation after details emerged of what is thought to be the largest ever fraud in value terms to hit the market.
SGEF saw growth turn positive in mid-2010
SG Equipment Finance reported a return to growth mid-way through 2010 and has since experienced a sustained upward trend in new business volumes.
ING Lease looks to ring the changes
New matrix management system will keep leasing aligned with the parent bank’s priorities, insists CEO John Howland-Jackson Leasing will no longer be a remote subsidiary business but a core product of the bank.”
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
Editor’s letter: The bank, the lessor, his partner and their customers
Fraud is a topic that the UK asset finance industry would rather avoid, in more ways than one Of course, leasing companies want not to become victims of fraud The FLAs Fraud Intelligence Sharing Scheme is a good attempt at trying to protect funders against malign applications.
SGEF consolidates in 2010
SG Equipment Finance has reported a decline in new business (excluding factoring) of 3.6 percent to 7.6 billion for the year to 31 December 2010
Nordea backs finance leases
Nordea bank has released figures showing investment in finance leases rose during 2010, while the total carrying value of operating leases declined. Gross investment in finance leases at Nordea Finance rose by 8.24 percent to 6.95 billion for 2010, compared to 6.42 billion in 2009 Net investment in finance leases (gross investments less unearned finance income) rose by 8.46 percent to 6.5 billion, against 6 billion in 2009.
Study shows few ready for accounting changes
A huge 40 percent of companies questioned by accounting firm Deloitte expected new lease accounting standards to make it harder to obtain financing. The rules are similar to the proposed international reporting standard issued by the IASB.
Editor’s letter: Pragmatism is the best path
The story of Key Equipment Finance is an allegory for todays leasing industry: an ambitious US bank looks to Europe for expansion during the boom years, opens offices across the continent, deploys a sales force, signs a slew of vendor deals, and builds up its book.