All articles by Brendan Malkin
Brendan Malkin
Albis Leasing to sell fund operator
Albis Leasing to sell fund operator Albis Leasing, the equipment and film production lessor, is expected to sell its 73.2 per cent stake in the loss-making German investment fund operator Finanzhaus Rothmann.
Bulgarian lessor on the rise amidst infrastructure upturn
Shares in Holding Roads, the Bulgarian road building and equipment leasing specialist, surged 20 per cent following news that the company plans to carry out a share split next year
Lease broker deals dip 7%
The National Association of Commercial Finance Brokers (NACFB) has undergone a 7% dip in leasing business written by their members, according to their end of year survey Adam Tyler, chief executive of the NACFB commented: Leasing business written by members has dipped lightly; however we are looking to recruit more leasing specialists to the Association and offer more to existing leasing members. He added that there are now two members of the NACFB board who come from a leasing background
Uncertainty over future of HBOS leasing arms
Structured asset finance has long been the preserve of HBOS, but as it prepares for its integration within Lloyds TSB there is uncertainty over whether this is still the case. Sources close to HBOS last month said that its Bishopsgate-based structured finance arm had been wound down, and its senior staff gone their separate ways. This follows the banks decision earlier this year to fold its small ticket leasing arm, with customers with turnovers of up to £1 million (1.28 million), into its corporate division in a move that will result in job losses and a potential drop in business
Making a return
Sale and leaseback is on the rise, but who exactly are the key European players doing such deals? Also, are they simply too risky? Brendan Malkin reports on the current situation.
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Bulgarian leasing market grows 86%
The Bulgarian leasing market grew 86 per cent in the 12 months to March 31 2008 as its dominant financial leasing sector benefitted from particular growth in the financing of machinery, industrial equipment and wheeled assets. The total amount of leasing companies claims under financial and operating lease was BGN 4.1bn (2.1bn) during the first three months of this year, which represents 6.1 per cent of GDP, compared with BGN 2.2bn (1.1bn) at the end of Q1 2007.
Syscap has bumper year with 20% upturn
Profits and revenues at Syscap, the UKs largest independent IT finance provider, have increased for another year in succession despite many leasing competitors either folding or reporting flat revenue growth Net profits rose 35 per cent during Syscaps financial year, which ended on March 31, while revenues rose 20 per cent year-on-year to total £162m.
Europlan signs further loan deal
Ambitious Russian lessor Europlan has received a further $25m (15.8m) loan following a spate of cash injections into the company over recent months. The loan, provided by subsidiaries of ICICI Bank, Indias second largest bank, will be used by the lessor to buy and lease cars and equipment. As well as specialising in real estate and equipment leasing, Europlan is also one of Russias largest car leasing companies with vendor finance programmes with Mercedes-Benz, Mitsubishi, Nissan, Renault, PSA and Volkswagen.
SFS drastically improves credit processing time
Siemens Financial Services (SFS) claims to have cut credit approval times by almost three-quarters, thanks to a project launched last summer Average customer credit approval times have dropped by 72 per cent to 1 hour and 40 minutes, while auto-acceptance rates have increased by 40 per cent, the company reported today. There is a dire need to improve credit application processing time in the context of the credit crunch, which for many lessors has given rise to an increase in demand for finance, and also reports last year that it took in the UK on average over six hours to respond to each application request.
Raiffeisen in unique securitisation deal
The successful closing of this transaction is remarkable in particular in the light of the current market environment and shows that investors acknowledge that we use superior risk standards in our markets and, therefore, our portfolios are very well received by the markets”, said Herbert Stepic, CEO of Raiffeisen International