All articles by Antonio Fabrizio
Antonio Fabrizio
DLL doubles net profit for H1
De Lage Landen (DLL) posted a net profit of 101m in the first half of 2010, more than 50% up compared to last years 47m. DLLs car lease business performed better than expected, due to order volume picking up and improved conditions in the used car market. Overall, credit portfolio grew to 25.6bn, a 6% increase since end of 2009, and despite a challenging Dutch home market.
KEF new chief credit officer
KeyCorp-owned Key Equipment Finance (KEF) has appointed Mark Brewer as chief credit officer of the companys lease advisory and syndications group. Brewer will be responsible for structuring and underwriting large complex financing transactions for the for the groups corporate, lender finance, solar power, third party origination and leveraged finance businesses.
Robust growth’ for Credit Agricole
Crdit Agricole has increased operating income by 20.7% to 115.5m in the first half of 2010, helped by robust growth in its lease finance and factoring businesses. They were up by 11.4% in France, by 15.5% in Italy, and by 9.6% percent in its international business overall
Volvo FS wins deal with SRLC
Volvo Financial Services (VFS) has scooped its latest deal with UK healthcare waste services company SRLC for the financing of 14 Volvo trucks. The captive arm of the Swedish truck manufacturer is providing 14 FM and FE distribution trucks on a full contract hire to SRLC, which provides services to NHS trusts, GPs and healthcare firms across the UK.
Lloyds TSB Commercial Finance backs UK SMEs
Two UK businesses have secured a factoring facility from Lloyds TSB Commercial Finance in the past few weeks. St Albans-based Cupcake Clothing, which supplies knitwear to high street retailers, obtained a £250,000 factoring facility from the lender The company approached the Lloyds Banking Group-owned business to boost its cash flow, and now expects to break its £3m sales target by the end of 2010.
Subscribe to our Newsletter
Get industry leading news, data and analysis delivered to your inbox
Return to growth for UK asset finance
The UK asset finance industry recorded its first new business growth in June, after 22 months of uninterrupted decline. Finance & Leasing Association (FLA) figures show that overall investments in asset finance increased by 26% in June 2010 compared to one year before, reaching £2bn. The increases range from a 13% growth in commercial vehicle finance (£307m) to 38% more recorded in aircraft, ships and rolling stock finance (£168m).
Two new appointments at GE Capital
GE Capital UK has made two senior appointments at its London office Thefinance provider has promoted Stephan Caron to commercial leader and Cyr Paillard to marketing leader. Caron has been working in various roles at GE Capital since 1999
New food and agriculture head at DLL
In his new role, Meredith will be in charge of global development for the food and agricultural business for DLL, with overall responsibility for the growth, profitability and management of the two segments.
Arval buys vehicle leasing arm of la Caixa
Arval which alongside BNP Paribas Lease Group (BPLG), Artegy, and Arius forms the leasing business of the French banking group will acquire la Caixas fleet management and contract hire business for 62m.
BPLG moves ahead in Italy
BNP Paribas Lease Group (BPLG) has delivered a strong performance in Italy, its second largest market after France, and is reshaping its local strategy accordingly. The Italian arm of BPLG recorded new business worth 701m in the first six months of 2010, up 4 percent compared to the same period a year ago, with 14,800 contracts signed Excluding real estate, BPLG Italia grew by more than 15 percent during the period, and has now become Italys third largest lessor in equipment leasing.