All articles by Verdict Staff
Verdict Staff
EU investment pushes Polish leasing market to the top
Due to accelerated investment related to the 2012 Euro football championship and inflow of subsidies from the European Union, Polands leasing market will experience some of the most rapid growth in Europe, according to estimates by the Polish Leasing Companies Association
GE financial services segments’ profit drops
Impairments and an inability to complete asset sales saw the net earnings for global conglomerate, GE and its overall financial services segments drop year-on-year for the first quarter of 2008 Net earnings for the Group fell two per cent to £2.15bn, and net earnings for the overall financial services segments fell by £1.5bn, 20.8 per cent to £1.2bn for the same period
Kazakhstan leasing sector shows promise
DBK-Leasing JSC, a subsidiary of the state-owned Development Bank of Kazakhstan JSC has started financing the countrys most precious commodity oil and gas equipment, via a project of Petropavlovsk Plant of Heavy Engineering
Romanian SMEs receive funding boost from EBRD
Romanias BT Leasing, part of Banca Transilvania, is set to receive 5m from the European Bank of Reconstruction and Development (EBRD) to finance the development of small and medium sized enterprises (SMEs)
Ukraine’s leasing market quintuples
The size of the Ukrainian leasing market more than quintupled in 2007 as the industrys leasing portfolio rose to $3.8bn from $716m in 2006, according to the latest findings by the International Finance Corporation (IFC), the World Banks private investment arm. The number of active leasing companies increased 39 per cent, driven by the higher interest in leasing by foreign-owned banks, increased awareness of leasing, the rapid development of Ukraines financial market and better access to credit.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
BA-CA Leasing triples 2007 net profit
With a market share of 12 per cent in terms of new business volume, BA-CA Leasing is a leader in Austria, ahead of Raiffeisen Leasings 11.5 per cent, Porsche Bank (9.2 per cent), Immorent (8.3 per cent) and BAWAGPSK Leasing (6.4 per cent).
P&CF to raise extra cash
Post-tax profits at the AIM-listed business and consumer finance lender grew in the year to September 31 2007 from £26,000 to £310,000, largely as a result of increases in business volumes and conservative credit management.
Leeway for relief from forfeiture narrowed
In the case of On Demand Information plc (in Administrative Receivership) v Micheal Gerson (finance) plc 2002 the House of Lords ruled that relief from forfeiture could also be granted in relation to the proceeds of sale of equipment sold by the lender following repossession and sale
Lloyds TSB reports lower profits at asset finance unit
Lloyds TSB, which reported lower losses from sub-prime market exposure relative to its peers, saw a large drop in profits at its asset finance unit Compared with the previous year, pre-tax profit at asset finance fell 47 per cent to £60m from tightened credit control and a general slowdown in demand for consumer lending, the bank said
Syscap partners Pegasus to offer software financing
Syscap has signed a two-year agreement with accountancy software supplier, Pegasus Software to be the sole provider of finance under the Pegasus Business Finance Brand