All articles by Grant Collinson
Grant Collinson
Low country lessor rides high
The global lessor took a 51% jump in profit the most significant gain across all of parent group Rabobanks business divisions a 12% growth in income and an 8.3% increase in total portfolio
The biggest market
Part of the quad of BRIC emerging markets, the Russian economy is beginning to swell and leasing is one industry looking to benefit Grant Collinson and Claire Hack discover how the massive federation is set to become the biggest leasing market in Europe Russia created something of statistical anomaly when the countrys United Leasing Association (ULA) joined Leaseurope last year, introducing a 10% spike into the European trade bodys six month new business figures.
Basement Talk: A spade’s a spade
Leasing Life’s Asset Finance Balladeer asks what exactly do Directors of Possibilities, Inspiration, Opportunities and Responsibilities do?
CAL&F profit still squeezed by Greek risk
The asset finance division of French bank Credit Agricole posted a 53% year-on-year decline in first quarter net income, due largely to 11m Greek cost of risk over the period. Revenue at the division has remained steady so far in 2012, reaching 142m compared to a 145m for the first three months of last year
Ampera helps Hertz to EV ‘revolution’
That was the announcement made by Michel Taride, executive vice president of Hertz Corporation as the global vehicle rental firm formally announced the addition of the Vauxhall Ampera to its fleet of car-share electric vehicles (EV). Speaking at an event in London, which also launched a partnership between Hertz and Transport for London (TfL) charge point provider Source London, Taride said smarter and faster vehicles, a clear standard in charge points and in-car technology have made it possible for a new transportation.
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Cost of risk helps SG to leasing profit
The leasing business at Socit Gnrale has increased profit despite a decline in new business and a drop in net income at the French banking group. Net income for SG Specialised Financial Services, which includes the Equipment Finance division and fleet business, was 93m in the first quarter of 2012, up 29% year-on-year from 72m. New business volumes were down 12% against the first quarter of 2011 to 1.6bn at Equipment Finance and the total lending book also declined by 3.9% to 18.2bn.
Used equipment leaves Europe as demand declines
Used construction and industrial equipment continues to leave Europe for emerging markets following the 1.4% decline in asset demand on the continent during the first quarter of 2012. Over 50% of used equipment is leaving the Eurozone for emerging regions of Southern Africa, South America, Central America and India, according to the latest analysis from global auctioneer Euro Auctions. In the UK, where 30% of auctioned used equipment is going overseas, prices of good, second-hand equipment held through quarter one and look set to hold in the next quarter, said Euro Auctions general manager Jonnie Keys.
Confirmed: De Lage Landen not part of Rabobank review
Dutch lessor De Lage Landen has denied the suggestion, made in a newspaper article, that the division is under strategic review by parent bank Rabobank. A news story, originally published in Dutch newspaper Financieele Dagblad and then reported by Reuters and Leasing World, quoted unnamed sources as saying De Lage Landens car leasing business was under review along with fund management arm Robeco which the article stated was up for sale. A spokesperson for De Lage Landen told Leasing Life that, while Rabobank constantly reviews all its business activities, only Robeco was under review, as stated at the banks annual report press conference.
Second Russian leasing conference to look at challenges in a growing market
The second Annual Convention of the Russian Leasing Industry will be held on the 28th of May with the aim of defining the direction of the growing leasing markets development
CIT closes $753m Vendor Finance securitisation
Global financial services firm CIT has raised $753m (570m) in a securitisation deal backed by its leasing arm CIT Vendor Finance. CIT has closed the six-tranche, fixed-rate private offering and said it will use the proceeds to refinance an existing conduit and for general corporate purposes. Barclays and Deutsche Bank Securities served as joint bookrunners on the transaction which was the 11th vendor finance-backed securitisation CIT has completed since 2000