All articles by Georgina Lavers
Georgina Lavers
Volatile markets create marginal loss for DVB
DVB Bank suffered a loss in its international transport finance business during the nine months to 30 September 2011, with consolidated net income down 13.7% from 98m to 84.6m Total income came down 1.8% from 241.6m to 237.3m, and return on equity was 11% down 2.9% from the last 9 months
Growing pains for Latin America leasing
The Latin American equipment leasing and finance industry has declined by 6% after a period of impressive expansion, according to a report by The Alta Group Brazils leasing industry, which holds 63% of the regions portfolio, decreased by 9%, as did the portfolios of Guatemala, Venezuela and Puerto Rico
LeasePlan UK to trial Toyota plug-in hybrid
The UK division of LeasePlan will be the first leasing company in the country to try the prototype and use of the vehicle will enable LeasePlan to undertake one week of internal tests, including residual value and on-road performance assessments, before making it available to clients to try
Disappointment for NetSol in latest quarter
NetSol Technologies, which provides software to the leasing industry, reported a net loss of $1.5m (1.1m) for the three months to 30 September 2011. The company, which recorded net income of $1.6m for the same period last year, said the loss reflected a more prolonged sales cycle amid global economic challenges. NetSol, which recently bought out UK-based leasing management firm VLS in a joint venture with Investec Asset Finance, reports the financial data as the first quarter of the 2012 fiscal year.
Electric car hits the brakes
A $770m investment by shareholders including HSBC Group and General Electric in electric car company Better Place has been questioned by leasing companies in its rollout market of Israel Founder and CEO Shai Agassi, who plans to make the company fully commercial in 2012, put into effect a pilot run in Israel, to the consternation of the markets motor-leasing industry A recent investment on Friday of $200m by General Electric and UBS AG added to an existing $500m of investment by HSBC Group, Morgan Stanley Investment Management and others, bringing the companys total valuation to $2.25bn
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Potential ?112bn growth from invoice finance
According to a report by GE Capital into the economic value of the funding model, at current levels of growth and usage, invoice finance will contribute 59bn of combined quarterly GDP across Europes four biggest economies and 1.66m jobs will be reliant on it by 2020. Projecting an increase in the uptake of invoice finance across France, Germany, Italy and the UK, which would add a further 53bn, the reports authors calculate 112bn of combined quarterly GDP and 2.59m jobs would be dependent on invoice finance in nine years time.
Nick Gallop to head marketing at IAA-Advisory
Gallops previous experience with captive finance under IBM Global Financing expands the reach of IAA-Advisorys capabilities, especially in the area of captives, serving their customer base via dealers and intermediaries, according to a statement released by the company.
Tatlock announced as CEO of Nexus Group
White Clark Group has appointed Peter Tatlock as the new chief executive officer of Nexus Group, with Peter Blease promoted to chairman Nexus Group, a wholly owned subsidiary of White Clarke Group, offers automotive management consultancy and outsourcing services to motor manufacturers Tatlock worked at GMAC for 31 years in a number of senior executive roles across businesses in Australia, Norway, Sweden, Switzerland and UK, with his last role as managing director of Masterlease