Increased revenue, in combination with continuous improvement of the operational excellence and low risk costs have improved ING Lease’s profitability, according to its global head Patrick Beselaere. The company reported that profitability was above the group’s targets.
"With top line and bottom line strong growth, ING is very satisfied with its 2015 overall leasing performance," Beselaere told Leasing Life, although the group did not provide a leasing figures breakdown.
Beselaere said that in all countries where ING offers leasing, the volume of new business increased "substantially".
"This has certainly to do with the improving economic outlook that triggered new business investments, but also a further appetite of the market for the leasing value proposition," he explained.
He also highlighted ING’s finalized strategy, following which leasing has been fully embedded within the ING business lending approach, positively affected ING Lease’s performance.
"ING is bullish on leasing in 2016, as we are convinced that leasing is a future-proof offering, well suited to serve the needs of the upcoming circular economy. Only a loss of belief in the sustainability of the economic recovery could spoil the party," added Beselaere.