All articles by Brendan Malkin
Brendan Malkin
Syscap has bumper year with 20 per cent growth
Syscap has seen net profits grow 35 per cent in its latest financial year following a drop in 2007 in the wake of its management buyout Net profits for its financial year ended March 31 2008 totalled £2.6m, while the value of its assets under management also increased by 20 per cent during its last financial year, from £295m to £354m In its 2007 financial year, net profits totalled £1.9m compared with £2.4m the year before, a drop that Philip White, CEO of Syscap, has attributed to investment in the companys structure and organisation
Pre-tax profits at BNP Paribas leasing drop 11%
Pre-tax profits at the equipment solutions arm of BNP Paribas Group dropped 11 per cent year-on-year during the first quarter of this year, despite marginal growth in its vehicle financing arm.
Czech arm of UniCredit Leasing expecting slowdown
Despite solid growth last year and rising market demand for the leasing of vehicles, UniCredits Czech asset finance arm predicts a slowdown in new business during 2008 New volume is expected to grow by 10 per cent, according to Jiri Matula, general manager of UniCredit Leasing (Czech Republic), against increases of just less than double that last year The company is gaining ground, with a 11.5 per cent share of the transport market totalling CZK13.8bn (0.5bn) worth of receivables, and last year moved from fifth to fourth position in real-estate leasing after growing by a whopping 71.4 per cent
State ramps up business development arm
State Securities has appointed a new business development specialist as part of its campaign to beef-up its broker-sourced business and expand its one stop shop capability His main objective is to encourage the companys existing broker contacts to promote to clients the companys range of products, which include asset finance, commercial mortgages, factoring and bridging finance
London Scottish appoints advisers to sell factoring arm
The banks spokesperson today confirmed the sale is aimed at plugging the gap in the amount of its available regulatory capital reserves.
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Upsurge in Polish factoring amidst international interest
Poland remains an attractive place for international lessors, with ING Leases local leasing business last year reporting an approximately 500 per cent hike in new business, and Fortis Commercial Finance showing interest with its acquisition in late 2006 of 4 Faktor, a polish factoring company.
Siberia launch for Raiffeisen leasing
Siberia launch for Raiffeisen leasing Raiffeisen Bank continues to show its commitment to leasing in Russia with the establishment of a subsidiary in the Siberian region of Tyumen
Hypo leasing maybe affected post sale
Hypo leasing maybe affected post sale The leasing operation of Hypo Group Alpe Adria is likely to feel the impact of the recent buyout by Bayern LB of a majority stake in the Austrian bank
Eastern charms
Eastern charms Moving the headquarters of a captive finance company to central Europe can reap rewards, as IBM Global Financing has discovered In February 2005 IBM Global Financing established a new base for its European operations in Budapest
Spanish finance specialist to float investment arm
Barcelona-based savings bank La Caixa, which has leasing and finance subsidiaries, is to float 20 per cent of its investment arm, Criteria Caixa Corp, in October.