Deutsche Leasing saw new business volume fall
8 percent to €8.3 billion in its 2008/2009 financial year ending
October.
Domestic new business, excluding real estate
leasing and structured finance, was €5.2 billion (a 7 percent drop
from the previous financial year, when it posted a record high of
new business), while foreign new business declined 11 percent to
€1.4 billion.
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The group parent, Deutsche Sparkassen Leasing,
reported net profit at the prior year’s level with €32.5
million.
Deutsche Leasing’s CEO Hans-Michael Heitmüller
said: “Defaults and crumbling resale values prevented us from
matching the previous year’s new business-based operating result.
Considering the economic environment, however, we can still be
proud of our operating earnings.”
Germany’s largest lessor forecasts a “markedly
lower new business volume for the first half of its current
financial”, having implemented a number of risk policies which
prevent higher new business acquisition.
the company said it is also in negotiations with Landesbank
Berlin AG (LBB) and readybank AG to merge their activities in the
car and consumer finance businesses. The supervisory boards of the
institutions still have to approve the project before it can go
forward, the lessor said.
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