All articles by Antonio Fabrizio
Antonio Fabrizio
GE Cap, UniCredit, Crédit Agricole, Barclays reveal 2010 growth plans
Europes largest leasing companies including GE Capital and UniCredit Leasing, as well as several bank-owned lessors across the UK, France and Germany have growth in new markets and winning greater market share across Europe at the top of their agendas, Leasing Life has learned.
Key hires at Crédit Agricole Leasing & Factoring
Olivier Toussaint has been confirmed as CEO of recently formed Crdit Agricole Leasing & Factoring, effective 24 March. He has been CEO of Crdit Agricole Leasing since 2005 and was appointed as head of Eurofactor in 2008.
Green’ laws hit jet lessors
The extension of the EU Emissions Trading Scheme (ETS) to the aviation sector has meant that, from now on, lessors and financiers will need to be more careful in order to ensure that aircraft operators comply with the new rules. The penalties, indeed, could be as stringent as confiscation and sale of the aircraft, with the new rules applying across the board, from commercial aircraft to corporate jets despite business aviation accounting for only 2% of the overall aircraft emissions.
Fleet lessors begin issuing downtime management policies to win business
Lex, Arval and BT Fleet among lessors focused on downtime management. Increasing numbers of lessors and fleet management companies are offering ways of minimising vehicle downtime, Leasing Life research has revealed.
New president for Italian leasing association
Lazzaroni, MD of Italys third largest leasing company UBI Leasing (the leasing arm of UBI Banca Group), replaces Rosario Corso, who has been at the helm of the association since 2004. Lazzaronis leasing experience spans over 25 years including a position as MD for BPU Esaleasing until 2008, when the company merged with SBS Leasing to form UBI Leasing.
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UniCredit Leasing posts ?117 million net profit
UniCredit Leasing posted a net profit of 117 million last year, significantly down from 2008 figures, but still a very positive result in the current economic situation, according to the companys CEO Massimiliano Moi. The operating profit was 525 million in line with 2008, although the company suffered loan loss provisions totalling 345 million due to the market deterioration.
Strong Q1 2010 for Daimler Financial Services
Daimler Financial Services achieved EBIT of 119 million in the first quarter of 2010 This is a significant improvement from the same period last year, when the captive arm of German carmaker Daimler posted a loss of 167 million. The company, which provides finance, leasing and insurance for Daimler Group vehicles, said that the improvement in earnings was mainly caused by lower provisions for risks and higher interest margins.
CO2 cuts no longer a priority for private companies, says TSL
CO2 emission cuts have disappeared from the agenda of private companies, but are on top of the agenda of public sector fleets, according to TLS Vehicle Rental. The GE-owned commercial vehicle rental specialist has recorded the change from pre-recession trends, when corporate CO2 targets were frequently mentioned by private companies when renting vans and trucks. TLS Vehicle Rental sales director Simon Cook said: Almost all fleet interest in reducing CO2 in the commercial vehicle rental market is now coming from local government and other public sector organisations.
Volume and profit up for BFL Leasing
Germanys BFL Leasing saw a 2.2 percent increase in new business last year. The IT lessor, which is part of the VR Leasing Group, increased its new production from 307 million to 314 million. Because of a reduced business in IT leasing, the company also managed to increase its market share from 7.7 percent in 2008 to 8 percent in 2009, and said it accepted 90 percent of new leasing applications.
Europe’s CV registrations 8.8% up in March
Commercial vehicle registrations across Europe were 8.8 percent up in March 2010 compared to one year before, according to the latest figures published by ACEA. The light commercial vehicle segment posted a 12.4 percent growth (160,980 new vans were registered last month) with increases in all major markets, from 15.4 percent in Germany to 29.2 percent in Italy.