All articles by Verdict Staff
Verdict Staff
A hard day’s work
Providing the ideal software system for stocking finance is no mean feat When asked what really matters in software provision for the stock funding (SF) industry, most point to the need for connectivity.
Richard Piers Ashworth Bull
Throughout the 1980s, and until his retirement in 1996, Bull was a prominent figure in the UKs big ticket leasing market. He worked initially for Lombard North Central and then the National Westminster Bank, where he widened the groups involvement on to the international stage.
Under siege
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 were last month neatly summed up 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
Lenders offload more RV risk onto insurers in response to credit crunch
While last month credit insurers faced up to a future of hardship and downturn, caused mainly by growing numbers of companies entering administration and not being able to pay their bills, some of their counterparts in the much-smaller industry of residual value insurance were, by contrast, distinctly more optimistic. QBE Insurance (Europe) Limited said it has seen a two- to three-fold increase in the number of inquiries from lessors looking to pass on residual value risk. Nick Hunt, of Lease & Loan Insurance Services Ltd, meanwhile said he thought it likely that will be an upturn in RVI business as lessors seek to spread risk, but added that his own company was at present cautious around seeking new business in this market.
BMW halts new business at Alphabet and Alphera
We are therefore limiting our activities first and foremost to the financing and leasing of BMW Group products, BMW said of the decision.
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ING Lease Poland CEO expects tough year ahead
At 7 percent, the Polish leasing industry is continuing to experience growth, although at a dramatically slower level than last year, where the industry recorded 50 percent growth; according to data from the Polish Leasing Association Commenting on the industry, Mariusz Kurzac, the CEO of ING Lease in Poland, said he expects the first half of 2009 to be difficult for leasing companies.
Spanish broker goes international
After expanding to neighbouring Portugal, the company, which is a member of the Spanish National Society of Financial Credit Establishments, hasannounced that it is adapting its know how to international markets, as it plans an expansion in Europe and beyond. It has recently expanded its European presence by entering markets such as Italy, Bulgaria, Romania and Poland, and has approved a plan to further expand activities in other countries, particularly in emerging markets, expecting to enter at least 10 more in the next five years
HSBC in calcium deals
HSBC in calcium dealsHSBC Commercial Finance has completed a deal with Longcliffe, a UK calcium carbonate producer, for the acquisition and financing of a new Atritor plant asset Longcliffe, which has two quarries, one for the production of dolomite in Derbyshire, requires the new plant to increase production of its specialised fine powders
Online auction system increase
Online auction system increases salesPlant and machinery auctioneer King Sturge has reported a 54 per cent increase in sales thanks partly to a new online auction system.In its financial year to April 30 2008 King Sturge sold nearly £17m of machinery, well above the previous years figure of £11m, according to figures released last month.
Emerging market software boom
Emerging market software boomFimasys has begun focusing its products on emerging markets with a new module aimed at the dealer and broker market.Its latest update to its Proposal Express leasing module, which provides quotations and processes proposals, can be used across different markets without the need to make code changes.