Deutsche
Leasing
New business: €9 billion
Number of employees (end 2008): 1,906
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Despite the dire state of the
economy, Germany’s largest lessor, Deutsche Leasing, expects new
business to grow by 5 percent this year, and the same again in
2010.
With a portfolio of €31 billion, Deutsche
Leasing expects to write just under €9 billion of new business
volumes this year.
Next year will see Deutsche Leasing continue
to focus on machinery, its biggest asset class both in Germany and
abroad, which already makes up 47.1 percent of its total
portfolio.
Among its flagship vendor finance programmes,
Deutsche Leasing will focus on reaching its €250 million target
with machine tool manufacturer DMG – a significant new client won
this year. Deutsche Leasing will also continue to roll out DMG’s
finance programme throughout Europe, entering five new European
countries before the end of the year.
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By GlobalDataThe lessor’s auto finance arm is also looking
to continue to expand in 2010, following the recent launch of
Deutsche Leasing’s Sparkassen-Auto-Kredit finance programme, where
it finances cars for private consumers.
Volkswagen Financial
Services AG
New business: €1.9 billion
Number of employees (end 2008): 6,639
Despite the pressures placed on the
German captive industry by the financial crisis, Volkswagen
Financial Services (VW FS) is regaining much of its lost
ground.
During 2009, the company continued its
internationalisation process and has announced that from early 2010
it will offer financial services in Norway.
The parent company is also working on the
merger with Porsche, which should take place in 2011 – and although
no mention has been made yet about what will happen to the brands’
financial services businesses, it is understood that Porsche’s
leasing business would most likely become an integral part of VW
FS.
The number of finance, leasing and insurance
contracts signed with VW FS in the first nine months of 2009
reached 2.4 million (19.6 percent up over the same period last
year).
In Germany, half of the group’s vehicles are
currently financed via VW Bank GmbH or leased via VW Leasing GmbH,
and the company aims to extend its market position with new
products.
IKB
Leasing
New business: €1.07 billion
Number of employees (end 2008): 363
Despite its parent being ordered to
reduce its balance sheet by the EU commission following the receipt
of €10 billion in state aid last year, IKB Leasing is still intact
and transacting business.
For the year ending in March, IKB banking
group reported leasing business up 17 percent y-o-y in its CEE
network to reach €305 million, a figure now representing almost
half the group’s lending in the region. The company opened new
subsidiaries in Romania and Russia during 2007/2008.
Overall, IKB Leasing, which focuses on
machinery finance, matched its 2007/2008 new business total of €1
billion, and expects to report a similarly flat growth for the
first half of its 2009/2010 year.
The company’s leasing income rose 10 percent
year-on-year, from €156 million to €171 million. It expects
business written this year to show a much greater weighting towards
contracts of five years or more – receivables from this type of
business were up 39 percent at last report.
Whereas total assets of the IKB Group must be
reduced to €33.5 billion by September 2011, the leasing division
has been one of its most well-supported arms, and expects to be a
major plant financier for SMEs in Germany and the CEE in 2010.
VR Leasing
Group
New business: €4.6 billion
Number of employees (end 2008): 2,990
German leasing giant VR Leasing has
not been immune from the financial crisis this year – but its 2.4
percent decline in new domestic business (to €1.1 billion) in the
first half of 2009 has shown that it probably suffered a little
less than many local competitors, which on average decreased by 15
percent.
The Eschborn-headquartered lessor has plans
for next year to play a more cautious, or “defensively-orientated”,
role in the CEE region. In fact, new business abroad dropped almost
50 percent to €602.8 million in the first half of 2009, mainly
because of the higher risk in Eastern European countries, and the
€6.8 million loss recorded stemmed from an increase in loss
provisions mostly abroad.
Its marketing strategy for next year will
include an increase of the business that VR Leasing does via its
partner banks – this currently is already around 66 percent, and
the target is to grow absolute figures even more by promoting
cross-selling.
Another major element of growth will be
on-line business. The company has seen a “boom” in its online
business this year totalling €80.8 million, over 53 percent up from
last year.
