All articles by Verdict Staff
Verdict Staff
Lombard provides 40% of £4m cold storage deal for RBS
RBS asset finance subsidiary Lombard has signed a £1.6m (1.9m) deal with storage and distribution company Grocontinental, as part of which it will finance the interior fittings of a specialist cold storage chamber and lease out a fleet of 20 commercial vehicles. Whitchurch-based Grocontinental received the finance along with a £2.5m loan package from NatWest, providing another example of RBS Groups highly integrated asset finance and bank lending strategy.
Tallon data: June 2010
Leasing Life, in collaboration with Tallon & Associates, publishes a monthly analysis of data on the demand for used assets This month we look at changes in demand for the construction sector. Generally little demand due to the decline within the construction sector and initial site preparation
On the Move: June 2010
The Finance & Leasing Association (FLA) has announced a number of new members of its main board George Lynn, CFO of Angel Trains since 1994, is the new chairman of the FLAs asset finance division
Grenkeleasing expects ?28m profit in 2010
Germanys Grenkeleasing expects to expand again this year, forecasting a significant growth in new business and profits. Grenkeleasings deputy chairman Uwe Hack said in the first quarter of 2010 the group, including franchise partners, increased new business by 26.6%.
Stagecoach signs HP deal
Public transport operator Stagecoach last month signed a £5.8m (6.7m) hire purchase agreement for 36 double decker buses.
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Daimler FS restructures German business
Daimler Financial Services (Daimler FS) has announced a restructuring of its business activities in Germany, with all the central functions for the German and global businesses now operating under one roof.
Expanding horizons
Vendor finance might be a dark art, with little or no official information on its scale or penetration across Europe, but it remains for most participants a profitable space to be in In a special report, Leasing Life looks at some of Europes largest vendor finance programmes, and discovers where it is working and where it is not A glance at recent developments in leasing suggest that, despite the recession, vendor finance is thriving.
Lombard and RBS IF to import and fund bottle maker
RBS Asset finance arm Lombard has provided the hire purchase component of a deal in conjunction with sister companies in the RBS group, to fund the acquisition and export of £250,000 worth of bottle-making plant for Norwich-based manufacturer FL Plastics Ltd.
Leaseurope repeats pleas as new accounting model discussed
Leaseurope continues to try to persuade the IASB and FASB to come up with reasonable proposals for future IFRS leasing accounting. The two boards held meetings last month and the IASB has said it will consider a hybrid approach which could see lessors applying to five accounting models. Leaseurope has said the hybrid model could mean many leases will be accounted for in a way that completely fails to represent the economics of these transactions.
Clarification: June 2010
In an article titled New phase of stabilisation in Ukraine leasing market, in the May issue of Leasing Life, the portfolio size of Ukraines top-five leasing companies was incorrectly reported as new business volumes for these lessors