All articles by Verdict Staff
Verdict Staff
HSBC AF largely unconcerned by credit crunch
Despite many banks having been forced to downsize their lending capacity due to the current economic crisis, the UK asset finance arm of HSBC does not expect any major change in its credit policy. Given that we have a strong capital base at HSBC we are reasonably immune to funding issues that are affecting the independents and the larger banks that dont have a stable capital base, Derren Sanders, head of leasing at HSBC, said
Changes in Demand for Plant & Machinery
Beginning this issue, Leasing Life, in collaboration with Tallon & Associateswww.assetbid.com will publish a monthly analysis of data on the demand for used assets
SEB reports ?8.9m profit at Latvian leasing unit
SEB Unilizings, the leasing subsidiary of the SEB group posted 6.26m lats (8.9m) of profit in 2007 up 18 per cent from the previous year. SEB Unilizings loan portfolio grew 25 per cent to 384m lats from a year ago, the Baltic Business Daily reported, citing SEB Unilizings spokeswoman, Liene Meklere
CIT to report up to $135m 4Q net loss
CIT Group Inc., which is scheduled to release its full year results on January 17, has made a string of write-offs and provisions that will contribute to a net loss of between $125m and $135m or 65 cents to 75 cents per share, in the fourth quarter ended December 31, 2007, the company said
Siemens FS on global expansion trail post Hungary sale
and Siemens Finance Zrt, which focus on healthcare, office equipment, IT, communication and other industrial equipment segments, because they did not fit with the companys new strategy of investing heavily in biggest growing sectors and regions, according to Jonathan Andrew.
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Grenke Group reports 10.7% rise in new business
Small-ticket IT lessor, Grenke Group notched up a 10.7 per cent increase in new business as it closed its books for 2007 In a statement released January 3, Grenke said inclusive of business by its franchise partners, the group generated 509m in newly purchased leasing assets and factoring volume against 409m reported in 2006
Peter Hunt analyses market statistics for the year to September 30 2007
Peter Hunt analyses market statistics for the year to September 30 2007 Highlights
Higher volumes offset thinner margins at ING
Higher volumes offset thinner margins at ING ING Group NV reported higher earnings at its leasing and factoring business as strong volume growth offset the decline in margins Underlying net profit for the third quarter ended September 30 rose 12.5 per cent to 36m compared with the same quarter last year
Fighting on two fronts
Fighting on two fronts More change is on the cards at Hewlett Packard Financial Services as it seeks to increase efficiencies, while driving sales
New leasing arm of Close launched
New leasing arm of Close launched Close Asset Finance, a subsidiary of Close Brothers Group, has formed a company dedicated exclusively to leasing