Spanish financial services company CaixaBank has created CaixaBank Equipment Finance in order to enhance corporate financing at the point of sale.

CaixaBank Equipment Finance replaces CaixaRenting and will be integrated subsidiary of CaixaBank Consumer Finance.

The new unit emerges with a portfolio of 112,690 contracts worth €500m (£400m).

CaixaBank Equipment Finance specializes in providing long-term financing of equipment and technology in sectors such as transport, logistics, food and agriculture, industrial machinery and healthcare.

The launch is part of the company’s strategic plan for the period 2015-2018.