All articles by Georgina Lavers
Georgina Lavers
CIT and Equanet in partnership
CIT global vendor finance, the asset finance division of US financial services group CIT, has announced a new partnership with Equanet, a Dixons retail-owned provider of IT solutions to businesses The venture will offer finance and leasing to UK-based companies in order to fund educational and business projects in IT
Time for a £1m boost for 1pm
The capital represents a 50% increase on the existing facility with an unnamed funder and will be exclusively used to write new lease contracts 1pms lease portfolio rose to £10.6m as of 31 August 2011 while revenue was £567,000, and pre-tax profit was £97,000, an increase of £85,000 on the same period the year prior
Innervision hope update will ease IASB changes
Lease portfolio management company Innervision has promised a painless transition to the new lease accounting regulations, with an upgrade to their IT system LOIS The upgrade to the online content management software, which Innervision claims will improve flexibility and cost efficiency of companies, was developed so the system could be easily tailored to individual client needs Each client will be able to enter not only lease management data, but any asset information that they wish, which Innervision states will remove the need for additional databases or spreadsheets
BNP Paribas offer prizes to push leasing
BNP Paribas Leasing Solutions is set to roll out a six-month incentive scheme to encourage leasing in IT and telecoms as it bids to lead the market in the UK The asset finance division of French bank BNP Paribas, which works with IT manufacturers such as SAP and HP, will encourage reseller sales teams to push lease finance with their incentive scheme Ace
Angel Trains deal to help ease overcrowding
Angel Trains has signed three lease agreements to provide vehicles for First Great Western (FGW) to help the train operator minimise overcrowding at peak travel times The lease agreements will provide an additional 4,500 seats for passengers on FGW services between London and the Thames Valley in order to meet the UK Department for Transports capacity requirements The primary lease is of five 5-car Class 180s until the end of the franchise in 2013, the first three to be leased from 11 December 2011, with the remaining two being leased during March and May 2012
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Q3 results static for European lessors
The European leasing industry has seen little loss or growth in the third quarter of 2011 compared to the previous three months The third Index to be published by the trade body showed the pre-tax profit of companies in the sample had decreased from 128m in the second quarter to 125m in the third quarter, but rose by 26.9% compared to Q3 2010
Hey big lender
GE Capital has predicted 112bn of potential growth in invoice finance but the sector has to overcome its stigma first, writes Georgina Lavers. Invoice finance could create 112bn in European GDP growth and nearly 3m jobs by 2020 that is according to a report by GE Capital, the finance arm of General Electric. To reach those heights, however, the industry must overcome two obstacles: businesses ignorance of it as a means of alternate working capital; and a stigma that has persistently dogged the sector since its beginning.
Country snapshot: Germany
Leasing Life has been delving into the European Union Eurostat database to discover some of the key macroeconomic and political indicators for different EU members
GE Capital to finance Kverneland
GE Capital has recently secured a distribution finance deal with agricultural machinery manufacturer Kverneland The Norwegian company, which specialises in seeding and harvesting machines and ploughs, is looking to grow their European business with liquidity support from GE Capital GE Capital will discuss dealer financing programmes with the agricultural machinery industry at this years Agritechnica in Hanover on 15-19 November
François-Xavier Castille is new GM of Arval France
Franois-Xavier Castille has been appointed general manager of Arval France, the largest subsidiary of fleet lessor Arval. His third general manager position with the BNP Paribas-owned company, Castille will report directly to Arval chief executive Philippe Bismut Castille held various posts at Barclays bank and Maaf Assurances before he joined Arval Frances sales division in 2000 as territory manager