All articles by Maryann Tan
Maryann Tan
How is GE coping with its flurry of leasing and ID acquisitions of recent times?
How is GE coping with its flurry of leasing and ID acquisitions of recent times At a time when commercial finance bigwigs are faltering from taking hit after hit from the credit crunch, even a usual stalwart like General Electric Co (GE) hasnt emerged unscathed. Known for its reliability in delivering consistent earnings growth, GE, whose financial services divisions contributed over a third of GCs global revenues of $173bn last year, stunned the market recently when it reported a decline in first quarter results.
BNP and JCB in exclusive new joint venture
BNP Paribas Lease Group (BPLG) and JCB, the maker of excavators and tractors have formed a joint venture to offer retail and wholesale financing solutions in Europe The JV, to be 50.1 per cent held by BPLG and 49.9 per cent by JCB, will initially offer retail financing solutions for new and used JCB machines in Spain, Italy and Germany
Pre-tax income up at PACCAR FS
PACCAR Financial Services (PFS), a unit of PACCAR, the manufacturer of premium commercial vehicles, increased pre-tax income by 2.6 per cent to $67.3m (£33.8m) in the first quarter compared with the previous year PFS margins improved with growth in its portfolio but this was partially offset by an increase in the provision for credit losses reflecting higher repossessions in its North American markets
3 Step IT reports 35% turnover growth
3 Step IT Group, a specialist in IT equipment life-cycle management, posted an increase in turnover of more than 35 per cent to 174m in 2007
Siemens eyes lucrative GP market
With financing packages tailored for the general practitioners (GP) market, Siemens hopes it can help solve an anticipated rise in capital requirements as GPs increasingly cluster together to form larger practices.
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Lessors hit by new wave of administrations
Lessors hit by new wave of administrations How Vanco, Global EPP, Thornycroft and Howley have knocked back the European leasing industry. The impact of the credit crunch continues to hit lessors hard, with revelations last month that as many as 38 lessors are facing losses arising from the troubles at telecoms company Vanco Plc.
De Lage Landen assists vendors through launch in Portugal
The Portuguese economy is not expected to perform up to scratch this year, but Carlo van Kemanade, executive vice president and COO of De Lage Landen (DLL), is unperturbed as the Dutch-based specialist in vendor finance forges ahead with the set up of its newest European office, based in Lisbon
General Capital below book value despite doubling in size
If investor sentiment had not been beaten down by the global financial turmoil, General Capital Plc would probably have enjoyed some stock price gains after posting a strong set of 2007 results
De Lage Landen’s profits up 14%
De Lage Landen posted a 14 per cent increase in net profit in 2007 and projected it would sustain its double-digit net-profit growth record of the past five years in 2008 Net profit for the financial year ended December 31, 2007 increased to 234m as its lease portfolio increased by 1.8bn, or 9.6 per cent, to 20.7bn from 2006
Grenkeleasing’s 2007 net profit up on tax gain
Grenkeleasing AG posted a 5 per cent increase in profit after tax for the year ended December 31, 2007 to 32.1m as it benefitted from a one-off positive tax effect But its earnings before interest and tax (EBIT) slipped 5.9 per cent to 45.2m on lower income from asset sales, higher bad debts provisions and higher operating expenses