All articles by Verdict Staff
Verdict Staff
Investec enters aircraft leasing business with $73m global fund
The Australian operation of specialist banking group, Investec has entered the aircraft leasing business with the launch of the Investec Global Aircraft Fund
Czech arm of UniCredit Leasing expecting slowdown
Despite solid growth last year and rising market demand for the leasing of vehicles, UniCredits Czech asset finance arm predicts a slowdown in new business during 2008. New volume are expected to grow by 10 per cent, according to Jiri Matula, general manager of UniCredit Leasing (Czech Republic), against increases of just under double that last year. The company is gaining ground with a 11.5 per cent share of the transport market totalling CZK 13.8bn (0.5bn) worth of receivables, and last year moved from fifth to fourth position in real estate leasing after growing by a whopping 71.4 per cent
St Helen’s optimistic despite bad debt increases
However, the City London-based lessor still has a long way to go with its latest financial statement for year end 2007 revealing an increase in total losses, mainly from bad debt, of £312,391, up from £168,000 in 2006. Nonetheless its managing director, Norman Kenvyn, is optimistic about future prospects saying that the current economic uncertainties will undoubtedly present the company with greater new business opportunities as traditional lenders to SMEs start to tighten available facilities
Reaching out to new niches
Currently it finances some 20 per cent of non-wheeled assets and commercial vehicles (CVs) compared to 80 per cent private cars and company vehicles. Miles Roberts, SFs managing director, tells Leasing Life that the aim is to alter the ratio to 40:60 in around three years time
Barclay’s earnings flat at commercial banking arm
Profits at Barclays Plcs commercial banking unit stayed flat at £1.4bn in 2007 compared with the previous year as higher impairment charges and operating charges and lower gains on asset sales offset an increase in income.
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Raiffeisen’s new head of regions appointed
The former director of Raiffeisen-Leasings Saint Petersburg-based branch, Andrey Donchenko, has been appointed head of the companys regional affiliates
News digest
The statement was made by the Competition Commission which is six months into an investigation into the rolling stock leasing market Chairman of the CCs rolling stock inquiry group, Diana Guy, said In a situation where customers have few alternatives, then there is a possibility that prices could be higher than those in a well-functioning market
AWAS orders 100 Airbus jets worth $6.9bn
AWAS, a second-tier aircraft lessor has announced an order for up to 100 new narrowbody aircraft from Airbus The deal, valued at US$6.9bn at catalogue prices, will see AWAS take ownership of 75 new aircraft from the A320 family with an option to increase that number by another 25 units
FLA former boss gets MBE
Former director general of the Finance and Leasing Association (FLA), Martin Hall, was awarded the MBE in the 2007 New Years Honours List for his contribution to the finance industry In a statement chairman, David Betteley, said: The honour bestowed on Martin reflects his significant contribution to the consumer credit, motor finance and asset finance industries
News digest
John Evans, previously managing director and executive vice president of Key Equipment Finances (KEF) Asia Pacific business, has been appointed executive vice president and managing director of its international operations