All articles by Brendan Malkin
Brendan Malkin
A&L moves to hosted service at TietoEnator
Alliance & Leicester Commercial Bank (A&LCB) has completed the final stage of a project to migrate its lease administration system to a fully hosted service from TietoEnator Under the terms of the agreement, the bank will continue to use the TietoEnator Instalment Credit Suite (ICS) lease administration system to manage its asset finance agreements with the software company now providing full support for the application management of the system for the next five years.
Amstel Lease ditches months of preparations for Fortis Lease merger
Amstel Lease ditches months of preparations for Fortis Lease merger Robert Peterson, director of strategy and innovation at Amstel Lease, the subsidiary of Dutch bank ABN AMRO, could not disguise his feelings of disappointment at Leaseuropes event last month.
KEF in Europe-wide restructuring
International vendor finance company Key Equipment Finance (KEF) has completed a restructuring which has resulted in the departure of its regional heads and the setting up of new reporting lines.
Iveco Capital hands residual value risk to Barclays
Iveco Capital hands residual value risk to Barclays The UK arm of Iveco Capital is looking to launch a contract hire product while its finance partner, Barclays Asset & Sales Finance, is to begin taking residual value (RV) risk on operating lease transactions.
French banks mostly thriving despite global crunch
New production volumes at Credit Agricole Leasings French outlets have grown 18 per cent during the year to date, partly because of rising demand for real estate financing SG Equipment Finance, which is present in 23 countries, increased new lending by 11.3 per cent, to 2.2bn, for year-on-year Q1 2008 and its outstandings by March 31 2008 reached 17.6bn
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NetSol Technologies completes financial turnaround
Net income for the nine months ended March 31 2008 totalled $5.1m, compared with a loss of $6.1m for the equivalent period last year In the last three months alone it made a net income of $2.3m, compared with a loss of $229,131 in the year to March 31 2007, according to NetSols third quarter fiscal year 2008 results published today.
Growth at HBOS slightly down on last year
However, while the banks asset solutions arm, run by Lindsay Town, provided 6 per cent of advances provided by the banks corporate arm, total loans by the latter increased by £19.7bn to reach £109.3bn.A spokesman said lending in asset solutions increased by £280m in 2007 The bank admitted margin pressure continues, although the business is being driven through investment in systems provided by CHP Consultings Alfa product and focus on key major contracts by its vehicle division, which includes rental and leasing company Hill Hire
SFS appoints new UK head
Following a 15 month selection process Siemens Financial Services (SFS) has recruited a former Norwich Union director to head up its UK arm The appointment of James Gearey, who starts his new job on April 1, will help spearhead SFS aggressive and focussed UK growth strategy, Jonathan Andrew, head of SFSs European businesses, said.
World’s largest equipment auctioneer about to form
GoIndustry, a leading player in the UK market which until recently was known as GoIndustry Henry Butcher, said the deal will give our company a market leading position in the United States, Europe and Asia-Pacific regions.
CIT bolsters IT vendor finance arm
CIT Group Inc has shown continued commitment to ramping up its European vendor finance business by making a key internal promotion Kalvir Gosal, who was part of the Barclays vendor finance team until CIT acquired the business in January last year, has been appointed sales leader of the expanded vendor finance business.