All articles by Verdict Staff
Verdict Staff
CHP, Sword Apak and White Clarke making headway
It has offered a dedicated wholesale finance system along fairly consistent lines since the late 1980s. A close competitor is French provider Fimasys, which provides systems for Socit Gnrale and Crdit Agricole, as well as for Honda Finance in the UK
Confusion over capital allowances ironed out under new rules in soft budget for lessors
Glitches in the capital allowance regime for both lessors and lessee have been largely ironed out in last months pre-Budget report.Lessors face a change in capital allowances in cases where they have changed the use of assets. This will be particularly relevant in the context of a leased asset that is converted into a long funding finance lease within the meaning of the Finance Act 2006. Under the rules, the capital allowances will be set not at the sale value of the equipment, but the value of the equipment or the capital value of the rentals, whichever is higher.
Capital Solutions Group is riding high as business volumes grow
UK lessor Capital Solutions Group has seen growth in its business volume this year, but is taking several precautions including looking for additional funding lines to protect itself from the credit crunch. The Petts Wood-based company has reported business volumes of about £34 million (40 million) in the last trading period ended in June, up 30 percent year-on-year, and expects growth to reach £45 million for the whole year. But David Jackson, the companys MD, said that despite the growth and the positive forecast, the past two months showed signs that CSG was heading towards a more cautious approach to business.
Lessors respond to global economic crisis
Business for some brokers is drying up as lenders refuse to take new business from them, broker commissions are dropping, turnaround times are getting longer The list of difficulties they face go on and on. The scale of their problems was neatly summed up last month by Adam Tyler, chief executive of the National Association of Commercial Finance Brokers: Most are hanging on to their existence and living on their fat
Captives’ credit crunch
Captive lessors and some leasing arms of banks are generally outperforming their parents
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SG Equipment Finance gets ?100m for Czech SMEs
The Czech arm of SG Equipment Finance is due to receive a loan worth 100 million from the European Investment Bank (EIB), it has emerged. It is understood that the funds will be used by SG Equipment Finance to finance SMEs in the Czech Republic, in particular for projects in the industry, transport, environment, energy and infrastructure sectors. The EIB has been lending money to lessors in an attempt to stem the effects of the economic turmoil on European SMEs
Belarusian leasing companies likely to receive more funding
The European Bank for Reconstruction and Development (EBRD) has stated that it is considering an increase of project financing as well asincreased cooperation in the banking and financial sectors in Belarus in 2009. The EBRDs credit portfolio in Belarus is likely to include more leasing companies in the future, according to Valdas Vitkauskas, head of the EBRD office in Belarus.
Impuls Leasing lowers target for 2008
Impuls Leasing Romania has reduced its level of business expectations for 2008 after a fall in the real estate leasing sector.
A strategy of acquisition could be the best way forward
Leasing companies now more than ever need to consider whether they should be launching an acquisition strategy, according to a corporate finance specialist. Speaking at Leasing Lifes AFD conference, Stephen Frazer, of chartered accountancy firm RSM Bentley Jennison said: When you have your next board meeting if you havent done so already open up the debate.
Profits increase for MPS Leasing
The leasing and factoring arm of Monte dei Paschi di Siena, Italys oldest bank, reported third-quarter profits of around 18 million and increased its leasing market share by 130 base points compared with last year.