All articles by Verdict Staff
Verdict Staff
Survey: Vendor Finance
Way back in 2001, Tim Conroy, the then director of global vendor partnerships at DaimlerChrysler Services, said in a report titled Global Alliances & Vendor Financing Success Is In The Detail that in the future vendor finance companies will have to make efforts to better understand their customers, and also improve their back office capability, particularly in new markets
The comfort zone
The comfort zone The bus and coach finance market is facing challenges very much peculiar to its own sector
News Digest
Annual writing down allowances (WDAs) for plant and machinery are likely to be reduced from 25 to 20 per cent under new proposals just issued by HM Revenue & Customs. A 10 per cent WDA rate will also apply to a new category of integral fixture plant attached to buildings, such as lifts and escalators
Editor’s letter
In the words of its communications manager, Gabriele Duva, July 3 marks the end of the beginning.As reported on page 17 of this issue, this date is when the company goes live in a major new operation covering Germany, and also completes its thorough revamp of its front and back office capabilities This follows an interesting recent history for the company, not least the decision by Xerox in 2001 to exit the finance business which, in doing so, removed some $10bn of equipment financing-related debt from the Xerox balance sheet, and reduced its future cash requirements
Agrilease explains profit fall with policy
Italian leasing company Banca Agrileasing has reported decreased growth rates for the first half of 2008, although it described the results as part of a cautious policy to deal with the current financial turmoil. Despite this, Agrileasing one of the top ten leasing companies in Italy and the leasing arm of Credito Cooperativo Banks said that it had achieved a satisfying performance, and had already obtained over 1 billion in new business.
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LeasePlan reports consistent growth
The Dutch-based company, which operates in the vehicle management sector of thirty countries globally after it opened a new branch in Mexico, has achieved a total of 1,362,000 cars under its management, an increase of 47,000 units since 31 December 2007
Société Générale creates Croatian leasing organ
Socit Gnrale has embarked on leasing operations in Croatia with the formation of SG Leasing d.o.o, a joint venture between SG Equipment Finance and Splitska Banka. SG Leasing d.o.o will offer leasing services to businesses ranging from SMEs to large corporates, and aims to boost Splitskas local presence with the international experience of SG Equipment Finance.
Profits at Banca Italease reach ?30m
Italian leasing company Banca Italease has announced net profits of almost 30 million for H1, compared to a loss of 475 million for the same period last year
Rolling stock procurement under spotlight as EU agrees to Luxembourg Rail Protocol
The European Union is expected to sign up to the Luxembourg Rail Protocol as early as 2009, heralding a boost for asset-based rail industry financings in the region
Sanjay Kumar moves on up at CIT
CIT Group, the global commercial finance company, has announced the appointment of Sanjay Kumar as managing director and head of capital markets for CIT Vendor Finance