All articles by Verdict Staff
Verdict Staff
Lloyds TSB Asset Finance profit increase of 52 per cent
Lloyds TSB Asset Finance profit increase of 52 per cent Lloyds TSB Asset Finance gained an increase in profit before tax of 52 per cent to £35m for half year 2008, up from £23m in the first half of 2007 Despite impairments and expenses, Lloyds Asset Finance still recorded a total income increase of 6 per cent (£21m) to £374m, which was due to good income growth, improved efficiency and collections procedures, lower staff numbers, lower balances outstanding and tightened credit control.
NetSol moves in Asia
NetSol moves in Asia NetSol Technologies will launch its new LeasePak management system, via a multimillion-dollar deal with the North American captive finance division of an Asian-based automobile manufacturer, which remains undisclosed. LesaePak is a key product offering of the IT solutions and services provider of the financial services sector
Housing group fleet deal
Housing group fleet deal Fleet management and leasing company Masterlease has won a deal worth around £2m before VAT to supply cars and light commercial vehicles to The Hyde Group, beating five other fleet providers to the prize The Hyde Group provides affordable housing to over 100,000 people in nine counties in England
RBS to close structured asset finance division
RBS to close structured asset finance division Hard on the heels of selling its flagship rolling stock operating company (Rosco) business, Angel Trains, for £3.6bn, the Royal Bank of Scotland is also about to exit structured asset finance, Leasing Life can reveal.
GE Capital Solutions realigns due to credit crunch
GE Capital Solutions realigns due to credit crunch Leasing Life has learned GE Capital is undertaking a strategic review due to the current economic climate, and has informed 350 staff of the move. We can confirm that GE Capital Solutions, the leasing, lending and asset management business, has completed a strategic review of its UK operations in light of the ongoing global economic turmoil, said a spokesperson.
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Leasing Life’s 4th Vendor Finance Summit
Leasing Life’s 4th Vendor Finance Summit For the fourth year in a row scores of lessors and industry support companies from across Europe gathered for Leasing Life’s one day vendor finance conference on June 10 Particularly memorable was the seniority of speakers, most of whom were at director level and from Europefs top international leasing companies, including GE Capital Solutions, UniCredit Global Leasing, Raiffeisen Leasing, and De Lage Landen
Lithuanian construction lessor expands
Kausta Guder, a Lithuanian construction sales and leasing company, opened a new sales and service complex in Riga, Latvia on June 19
Alun Richards joins The Alta Group
The Alta Group, the global asset finance consultancy, has appointed Alun Richards as a principal in its EMEA Region Richards was managing director of Key Equipment Finances European region until October 2007
UniCredit launches Bulgarian yacht leasing
Italian yacht leasing hits low point amid crunch UniCredit now leasing yachts in seven countries
CIT challenges Moody’s downgrade
CIT Group Inc has spoken out against Moody’s Investors Service’s decision to downgrade the US lender’s debt rating