All articles by Brendan Malkin
Brendan Malkin
Irish leasing market in tatters as First Finance goes to the wall
The asset finance arm of Friends First is due to be closed to new business in a move that will lead to a culling of almost a quarter of the Irish financial services business workforce.
Leasing arm keeps Touax afloat
Despite seeing a fall of 15 percent in its consolidated turnover during the first half of this year, French lessor Touax still managed to increase its net profits, largely thanks to growth in its leasing division.
Editor’s Letter: Are you cushioned against bad debt?
So, Germany last year retained its lead at the top of Europes leasing table, according to Leaseuropes most recent figures published late last month.
CSI Leasing UK signs partnership with DBAM
Commenting on the new venture with DBAM, Chris Lloyd, sales manager at CSI Leasing UK, said: DBAM has fantastic relationships with their customers and channel partners and we hope to build on this with the provision of our competitive leasing packages on DBAMs product range. In June, CSI Leasing, which is headquartered in St Louis in the United States, established a full-service IT company in Germany called CSI Lifecycle Services
UK leasing declining three times quicker than Europe
While total new production, including hire purchase as well as equipment and car leasing, among all Leaseurope members dropped in 2008 by just over 5 percent, among members of the UKs Finance & Leasing Association it declined by 15.1 percent, from 59.1 billion to 50.1 billion
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Angel scoops major east coast lease deal
Angel Trains has won a bid to lease trains for the new direct rail link between the West Yorkshire town of Calderdale and London The rolling stock lessor will lease three high-speed trains in early 2010 to Grand Central Railway, the train operating company which is running the route to Kings Cross Station in London
A look at the UK’s State Securities sheds light on the state of subprime asset finance
For almost three decades UK subprime asset finance specialist State Securities has made millions of pounds in profits thanks to its close links with leasing brokers, from which it sources all of its business, and its business model of lending to subprime customers. Part of the Five Arrows Leasing Group, the UK leasing conglomerate run by the ebullient Sam Geneen that has continued to be supported by its parent, Rothschild, throughout the dark days of the current recession, State is seen by many as a stable company with a healthy future.
Barclays and BoS among victims
Bank of Scotland and Barclays are among several banks swindled in a £25 million (29 million) leasing fraud that lasted almost five years.
Fresh BVRLA, FLA rule changes raise eyebrows
Broker-to-broker deal sharing could be formalised in UK equipment finance Also, over many months this magazine has reported on widespread allegations by lessees of over-pricing, insufficient due diligence and questionable deals involving undisclosed services wrapped up within leasing transactions
Growth in a decline
Despite the recession, HSBC Equipment Finance has ambitious plans for growth The new boss at HSBC Equipment Finance (HEF), Richard Carter, who took up the post in April, has some ambitious plans up his sleeves.