All articles by Verdict Staff
Verdict Staff
HBOS reports slight rise in operating lease income
HBOS reports slight rise in operating lease income Under fire UK bank HBOS’ H1 results show a slight increase in its operating lease rental income to £659m from £646m in the same period in 2007, while operating lease depreciation stood at £505m, up from £493m.
Cat Financial reports growth despite market difficulties
Cat Financial reports growth despite market difficulties Caterpillar Financial Services, which is part of Caterpillars global Caterpillar Financial Products division, recorded strong new business and profit growth of six per cent for Q2 2008
JV leads to insurance cuts
JV leads to insurance cuts Fleet insurance provider CBG has entered into a strategic partnership with Eagle-i Telematics, a commercial vehicle and car fleet data provider Terms of the joint venture include providing preferential terms to fleets that install Eagle-i’s telematics system
DLL signs with Lohr
DLL signs with Lohr De Lage Landen BV and Lohr Group have signed a deal to establish Lohr Finance, a new private label finance program in Europe Lohr Finance will initially provide support for the sale of car-carrier vehicles in France, Spain, Germany and Poland In future, its activities will expand to support other product categories of the Lohr Group, the partners said in a joint statement
Italian leasing company makes record securitisation of ?318m
Italian leasing company makes record securitisation of 318m A-Leasing S.p.A, an Italian company part owned by Raiffeisen Leasing, has securitised 320m of its assets in the first deal of its kind by the Austrian-based international lessor The move demonstrates an easing in the liquidity crisis, although due to difficulties finding acquirers it took over a year to complete. A-Leasing, 49 per cent of which is owned by Raiffeisen Leasing and the remainder by regional arms of Raiffeisen, has built up considerable assets in the seven years since its launch.
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CIT may sell its rail leasing business in US
CIT may sell its rail leasing business in US After selling its subprime home-loan business, commercial lender, CIT Group may sell its railroad leasing business in the US. CIT will have a pretax loss of $2.5 billion in the second quarter, as analysts estimate it received about 64 cents on the dollar for the subprime mortgage business.
DLL Global appoints new president of equipment group
De Lage Landen International has appointed a new global business unit president of the DLL office equipment group, Marc Dierckx Dierckx, who joined DLL in 2004, will be responsible for DLLs overall global business vendor finance activities in the office equipment industry Prior to working at DLL, Dierckx held several senior management positions within Lanier Europe Finance, one of which was co-managing the transition of Lanier Europe into the Ricoh Group, a provider of digital office solutions
Arval expands into India
BNP Paribas automotive leasing subsidiary Arval has expanded into India with an ambitious plan of owning a fleet of 10,000 vehicles in the next five years Liam Donnelly, CEO of Arval in India said: There are roughly 30,000 vehicles under operational leasing in India compared to 15 million in the UK
Immorent in Bucharest lease deal
Immorent Romania, the real estate leasing unit of Austrias Erste Bank Group, will invest 300m in a real estate project in the capital city, Bucharest
Higher profits at Hypo Alpe-Adria-Leasing’s Serbian unit
At a news conference, head of Hypo Alpe-Adria Leasing Serbia, Vladimir Jamsek said the unit saw a 45 per cent increase in leasing contracts and attributed profit growth partly to reinvestment of profits in the market