Despite the trend among most European leasing
companies to avoid expansion during the current recession, Grenke
Group has already in 2010 launched businesses in Northern Ireland
and Luxembourg and has plans for further expansion later this year,
it was revealed today.

The German micro-ticket lessor announced today
that it had “implemented a cell division in the UK with the opening
of a new branch in Belfast”.

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The group, which also reported that it had
“gained a new franchise partner in Luxembourg”, expects to achieve
new business growth in 2010 of 15 percent.

The company, which has plans to open
additional offices during this year, said it expects to see a
“tangible rise in interest income” in 2010. This follows a recovery
in its estimated residual values “despite declining demand and
declining prices”.

Brendan Malkin

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