The Grenke Group reported business
volume of €325.6m for the first six months of 2010, 42.5% greater
than 2009’s corresponding first-half volume.
Based on the strong result, the group
has revised its new business target upward, hoping to achieve a 20%
increase on 2009’s total.
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High demand for lease finance and low
levels of competition were listed as drivers for growth at
present.
Last month the group successfully placed
a €100m bond, which was oversubscribed by 20%.
International business now represents
59.4% of overall, up from 46.8 in 2009.
Grenke’s biggest foreign markets are
Italy, France and England, and in the second quarter of 2009 it
established a fourth office in Italy and a second in its new
Portuguese franchise.
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