All articles by Antonio Fabrizio
Antonio Fabrizio
Austrian leasing business drops 23 percent in 2009
The Austrian leasing market experienced a 23.2 percent decrease in new business volume last year (to 5.26 billion), according to figures just published by the Austrian leasing association (VL).
Banco Sabadell launches new product for Spanish SMEs
Banco Sabadell has launched a new product for SME-sized companies, in order to offer a comprehensive list of services including leasing and renting to its clients. Spains fourth largest banking group said that its BS Negocios is specifically designed for the needs of businesses with the aim of gaining a leading position in the countrys SME sector. It said its services will include leasing, renting and loans under preferential conditions, as well as discounts on business protection insurance, and preferential financial offers for the firms’ employees.
Italian lessor wins massive real estate leasing deal
Italys MPS Leasing & Factoring has won a tender for the financing of a massive public building in Turin, in Northern Italy. The Siena-based company, which provides equipment as well as real estate leasing, will lead an SPV which includes other lessors such UBI Leasing and Banca Agrileasing, as well as construction companies.
BA ready to lease aircrafts from other operators
British Airways (BA) might temporarily lease a number of aircrafts from other operators to counteract possible strikes by cabin crew. The airline said it has plans to lease up to 23 aircrafts, including full crew, from other UK and European operators, to help run flights in the event of a strike
CIT expects loss of $900 million in Q4 2009
CIT Group expects a loss of $900 million (658 million) for the fourth quarter of 2009, the global commercial finance company said. The US-based SME lender was expected to report full results earlier this week, but in a Securities and Exchange Commission (SEC) filing it said it would need until March 16 to complete its annual report. CIT said it expects a $4 billion loss for the full year which reflects credit losses as well as goodwill charges and asset writedowns
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BBVA Leasing to finance fire trucks
Spains BBVA Leasing has won a public leasing contract to provide 14 fire trucks to the town of Caceres, in the countrys western region of Estremadura.
GE’s TIP boosts fleet maintenance services
TIP Trailer Services fleet maintenance product FleetCare saw an 11 percent increase in the number of contracts last year, the GE Capital trailer leasing arm said. The GE-owned lessor said that FleetCare which is one of the four businesses that make up TIP Trailer Services, alongside its traditional rental and leasing business and other service products currently represents 20 percent of all TIP revenue in the UK.
In Brief 3
Software house Banqsoft has just signed a major contract with Norways largest financial services group, DnB NOR Finans, covering Norway, Sweden and Denmark. The Nordic lease software specialist, which provides software solutions for the management of credit portfolios including leasing, floorplanning and fleet management, said that the agreement follows a number of strategic contracts with blue-chip financial institutions in the Nordics, including the likes of Santander, Volkswagen and Toyota.
BVRLA: Budget should extend tax benefits to lessors
The British Vehicle Rental and Leasing Association (BVRLA) has asked the UK government to extend to leasing companies its support for early adopters of electric vans. The trade association said that in its forthcoming Budget, the Treasury should include lessors among the beneficiaries of a 100 percent first-year allowance to enable firms buying electric vans to offset their full cost against their corporation tax bill in the first year.
NetSol signs lucrative contract in China
NetSol Technologies has won a lucrative deal with a Chinese finance company, strengthening its presence in the lucrative Chinese leasing market The latest deal is with a China-based lessor, which according to the software house has a major European bank and a multi-billion dollar Chinese financial services group as partners.