Dutch vendor finance giant De Lage Landen has
reported a €235 million net profit for 2008, and a 13 percent
growth in its lease book over the year to €23.3 billion.
reported a €235 million net profit for 2008, and a 13 percent
growth in its lease book over the year to €23.3 billion.
Among other figures reported by the lessor were
a 165 percent growth in factoring business, and a Risk Adjusted
Return on Capital (RAROC) figure of 20 percent.
a 165 percent growth in factoring business, and a Risk Adjusted
Return on Capital (RAROC) figure of 20 percent.
CEO Karel Schellens acknowledged that 2008’s financial turmoil
had presented a “worst case scenario” for DLL, but added: “It’s
safe to say we’re still a very healthy, trustworthy company with a
bright future.”
De Lage Landen won Leasing Life’s 2008 Vendor Lessor of the Year
award, and will continue to put resources into developing vendor
partnerships in 2009, according to statements by the company.
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For the year ahead, DLL expects only single digit portfolio
growth, stating scarce capital, climbing risk costs and declining
residual values for vehicles as causes for concern.
