Finance’s decision to close its broker introduced arm to new
business, BNP Paribas Lease Group (BPLG) has announced that it will
cease some of its Europe-wide broker business as of January
1.
Mike Dix, the UK managing director of BPLG, confirmed in
December that it will be closing its broker sales channels in its
technology solutions division as of this date.
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Commenting on the move, he said: “The default on broker business
always has been significantly higher than on vendor business. Given
the current economic environment, the model does not produce the
level of return that the shareholder requires.”
The lessor is believed to regard IT and office equipment, which
form part of its technology solutions division, as more riskier and
less rewarding than agricultural or commercial vehicle
lines.
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