All articles by Verdict Staff

Romania’s leasing market slows as the crunch hits home

European Commission allows GEFA PEMA merger

European Commission allows GEFAPEMA merger The European Commissions competition regulator today gave the go-ahead to the acquisition of German truck and trailer lessor, PEMA GmbH, by GEFA GmbH, an arm of Societe Generale SA. This follows its ruling that PEMA, which leases trucks and trailers above 12 tons in North Eastern Europe, does not overlap with the activities of GEFA a finance provider for the heavy transport industry – save for finance provision for heavy transport equipment in Slovakia and the Czech Republic.

Raiffeisen’s Bulgarian finance arm up 58%

Raiffeisens Bulgarian finance arm up 58% Raiffeisenbank Bulgaria has reported credits and receivables, including financial leasing, of BGN5.1bn (2.6bn) for the six months to the end of June, a 58 per cent increase on figures for the same period in 2007. The subsidiary of Austrian banking group Raiffeisen Zentralbank sterreich AG also reported an H1 net profit of BGN81.3m (41.7m) – up 87 per cent from last year – and total assets of BGN6.9bn (3.5bn), up 17 per cent from June 2007.

Grenkeleasing proves profitable despite higher costs

Grenkeleasing proves profitable despite higher costs German IT equipment lessor, Grenkeleasing AG, recorded a net profit of 16.3m for the first half of 2008, up five per cent on the same period in 2007

KBC launches Autolease in Poland

KBC launches Autolease in Poland Belgium banking giant, KBC Lease has launched its Autolease subsidiary in Poland, AutoleasePolska Sp z o.o., which will offer full-service car leasing as well as fleet management services, lease-back and hire. KBC Autolease, is one of KBC Leases fastest growing units The new subsidiary will be led by Ireneusz Tyminski, who is experienced in the fleet financing sector, and the business will be targeted toward corporate and SME customers, employees and shareholders

St Helen’s Finance records first profit for H1 2008

St Helen’s Finance records first profit for H1 2008 Since it started trading, St Helens Finance, an independent asset finance provider has recorded its first profit of £55,000 for the first six months to 2008 The companys turnover increased by 120 per cent year-on-year for half year 2008, up to £669,000 from £304,000, but its expenses also doubled for H1 2008, from £321,000 in H1 2007 to £517,000 in H1 2008.

DiRENT Romania announces record results for 2008

DiRENT Romania announces record results for 2008 DiRENT Romania, one of the countrys only operational leasing companies has announced an estimated turnover of 5m for 2008, almost double on 2007, due to an expected greater number of bigger clients

SFS says leasing could unlock European businesses’ capital

SFS says leasing could unlock European businesses’ capital Global business finance solutions provider, Siemens Financial Services, has revealed new research on how leasing, as an alternative source of financing, can help untie working capital and liquid assets that are frozen in private sector businesses.

De Lage Landen inks vendor deal with Lohr Group

De Lage Landen BV and Lohr Group have signed a deal to establish Lohr Finance, a new private label finance program in Europe

1pm secures additional funding facility

In the past three months, total banking facilities available to 1pm have increased by £1.65m raising total funding facilities available to over £3.5m