All articles by Antonio Fabrizio
Antonio Fabrizio
Comment: Why block discounting should not be in the doldrums
The UKs block discounting market appears to be in trouble. Several players in this market told Leasing Life last month that certain finance companies have reduced their block discounting business, while others have withdrawn from this market altogether.
UniCredit Leasing to get ?300 million from EIB
UniCredit Leasing will get 300 million from the European Investment Bank (EIB) to support small and medium-sized enterprises The latest agreement signed between the EU long-term lending institution and the Milan-headquartered lessor forms part of the policy that the EIB is implementing, in cooperation with banking groups, aimed at improving small businesses access to credit The EIB said that through UniCredit Leasings lease financing schemes, it will be possible to finance up to 100 percent of the total value of projects, with a cap of 12.5 million per project.
Europe’s CV registrations down almost 31% in October
New commercial vehicle registrations across Europe declined another 30.7 percent in October 2009 compared to the same month last year, statistics from the European Automobile Manufacturers Association (ACEA) have shown. New van registrations were 25.5 percent less, with new EU member states worse hit (- 53.3 percent) than Western European countries (- 21.7 percent).
Used van values higher than 2006, says Manheim
Used van values are exceeding 2006 levels, Manheim Auctions latest three-year market analysis for vans has shown. According to the auctioneer, the average selling price for a used van in Q3 2009 was 4 percent or £127 (140) higher than the same quarter in 2006.
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Bosnian SMEs to get ?90 million from EIB
Bosnias small and medium-sized companies will benefit from a 90 million credit line made available by the European Investment Bank (EIB). The EIB will provide 50 million through the Bosnian branches of Italys Intesa Sanpaolo and 40 million through Raiffeisen Leasing, the leasing arm of Austrias Raiffeisen Zentralbank.
Ubi Leasing new business drops 31 percent
Italy’s Ubi Leasing reported a 30.95 percent decline in new business in the first nine months of 2009, slightly better than the average 40 percent fall recorded in the local leasing market in the same period. The leasing arm of cooperative banking group Ubi Banca, headed by Maurizio Lazzaroni, signed 7,802 contracts, totalling 1.45 billion of new business.
BNP Paribas Lease Group appoints new head of key accounts
BNP Paribas Lease Group (BPLG) has appointed Brian Warbrick as head of key accounts within the lessors equipment and logistic solutions division. He specialised for over 20 years within the material handling market, working with Capital Asset Finance (CAF) first and then with De Lage Landen (DLL), following the acquisition of CAF.
Volvo FS posts Q3 operating loss, sees signs of stabilisation
Portfolio delinquency, struggling customers and credit provisioning continued to impact results for Volvos captive arm, although the company said it is starting to see early signs of stabilisation. The Swedish truck maker announced that in Q3 2009 it posted an operating loss of SEK3.3 billion (320 million), which is less than analysts had expected In line with the parent company, Volvo Financial Services reported a SEK3 million operating loss, but added that activities undertaken to reduce loss frequency and severity were helping stabilise financial results.
NetSol signs contract with BMW Financial Services
Software house NetSol Technologies has signed an Independent System Review (ISR) and Testing Services contract with BMW Group Financial Services. The contract, which covers the Asia-Pacific region, is for the comprehensive testing of a newly developed financial application suite to be deployed in at least eight countries NetSol said that the ISR and Testing Services enable customers to assess developed applications prior to full systems migration, identifying application problems before an application engages a full scale deployment.