All articles by Verdict Staff
Verdict Staff
KBC reports 44% fall in Q1 profit
Its net profit for the first quarter of 2008 was down 44 per cent to 554m, compared to the first quarter in 2007 and its underlying profit came to 573m, also down 22 per cent on the first quarter in 2007 and down 15 per cent on the previous quarter
Upturn at Cisco Cap linked to easy lease product
Finance captive Cisco Capital has attributed the companys significant profit and turnover contributions it has made to its parent company, Cisco Systems, to its easy lease product Guy Smith, marketing manager for Cisco Capital in Western Europe, said: We are recognising in excess of 30 per cent growth year-on-year in the Western European markets since the launch of the easy-lease product. Focused on the SMB and mid-market space, Cisco Capitals easy-lease product offers 0 per cent financing for those companies that need to acquire technology immediately without a large initial outlay
Handels Finans in tendered biofuel deal
Handelsbanken Finans continues to show its green credentials with a 200m lease and loan financing for a power plant in Finland The deal, which follows similar- sized ones in terms of value and type, involved financing being provided through Handelsbanken Finans Swedish branch and the structuring and client liaison taking place in Finland
Untouched by the credit squeeze, say finance pioneers
Stewart Dick and Gillian Keeler, directors of Private Client Finance at Arbuthnot Banking Group, claim to have more or less invented superyacht financing in about 1997, when they worked at the Ansbacher Banking Group.
IKB Leasing sees upturn in new business
German lessor IKB Leasing Group has reported a 23 per cent increase year-on-year in new business on the back of an upturn in equipment leasing and the launch of new products.
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Rothschild’s ABL business sold to GE
Five Arrows Commercial Finance Ltd, the asset based lending arm of the bank NM Rothschild & Sons Ltd, has been sold to GE Commercial Finance.
Efficient leasing
The leasing arm of one of Russias largest banking groups, VTB Leasing, reported total assets of RUB38.6bn (1.04bn) as at June 30 2007
What impact will the Consumer Credit Directive have on asset finance?
The Consumer Credit Directive was finally adopted by the European Parliament on January 16 2008 and received Council approval on April 7 The directive is broad in its scope, but it specifically excludes hiring and leasing agreements where there is no obligation on the hirer or lessee to purchase the goods
BMW financial services announces disappointing Q1 results
While BMW, the Germany luxury car group, has declared that the global financial crisis damaged its first quarter results for 2008, it maintains that it should gain record sales for the year ahead The groups net profits fell 17 per cent year-on-year to 487m, while pre-tax earnings declined 25 per cent to 641m
Estonian leasing new business drops 1.5%
However, despite the EEK334m (21.3m) decline in new business year-on-year to EEK1.5bn (95.8m), the market this year shows signs of recovery with current total portfolio in March 2008 totalling EEK35.3bn (2.2bn), an increase of a few thousands Euros year-on-year.