MAN invests in truck lessor
German heavy CV manufacturer MAN intends to acquire a majority share in truck leasing company Euroleasing, giving it access to a fleet of some 1,000 vehicles.
MAN already had a 25.1 percent stake in Euroleasing, but this was diluted to 16 percent after a capital increase. Now, a company spokesperson has said that the truckmaker wishes to buy another 33.39 percent stake in order to achieve a majority.
UniCredit Leasing gets €300m from EIB
UniCredit Leasing is to receive €300 million in funding from the European Investment Bank (EIB) to support SMEs.
The agreement signed between the EU long-term lending institution and the Milan-headquartered lessor forms part of the policy that the EIB is implementing, in co-operation with banking groups, aimed at improving small businesses’ access to credit.
Further agreements to support SMEs in Austria, Germany and Poland will be announced soon, the EIB added.
Estonian lessors see growth at last
The Estonian leasing association has reported that new business written by members was up nearly 7 percent in October, from €22 million to €23.5 million – a sign of recovery in the Baltic leasing market.
Finance leasing made up 60 percent of this new business, and operating leasing just 32 percent, the association noted.
But while new business volumes may be beginning to recover, Estonian lessors still have a long way to go – July’s total of €22.5 million was 75 percent down on the equivalent figure in 2008.
French leasing declines again
The French equipment leasing industry continued to see a decline in new business in the third quarter of last year, writing just over €5 billion, figures from the French leasing association, ASF, showed.
Although this was the fourth consecutive quarter that equipment leasing recorded a decline, the ASF noted that the 24.3 percent decline in the third quarter was not as strong as the 28.9 percent fall in the second quarter, and the 25.6 percent fall in the first quarter.
Leaseurope welcomes Swedish Car Rental Association
The Swedish car rental association, Biluthyrarna Sverige, has joined Leaseurope, bringing the number of Leaseurope members to 47 associations in 33 European countries.
“Joining Leaseurope provides us with additional leverage to safeguard and promote the interests of our members, especially when dealing with such important issues such as security, cross-border rental and vehicle taxation,” said Roger Ekdahl, director general of Biluthyrarna Sverige.
Poland’s Millennium aims for 30% growth
Bank Millennium aims to grow its leasing business in Poland by 30 percent in 2010, the Portuguese BCP subsidiary has announced. Andrzei Glinski, head of corporate banking at Bank Millennium, said that leasing and factoring were “strategic products” for Millennium, and that the goal was to grow the number of SME customers.
“We want to be much more active in corporate lending, in all segments of the market,” he said. “We expect that leasing and factoring will grow much faster than the market – our ambition is to significantly increase market share.”