website
Nations Interregional Crime and Justice Research Institute (Unicri)
to create a free database aimed at preventing crimes in the
financial sector.
The new tool can be accessed through the Unicri website (http://www.unicri.it/).
The data is provided by the European Union and the United
Nations. Assilea said the new tool will help reduce the “damage
caused by organised crime”.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Spanish commit to leasing
A new commitment to leasing has been given by Caja Rural de
Toledo, a Spanish bank, and Fedeto, a local business federation for
the Toledo region.
Both have earmarked investment in fixed assets and equipment
leasing as part of a joint agreement between the two organisations
to support small and medium-sized enterprises. Andrés Gómez Mora,
president of Caja Rural de Toledo, said the agreement would help
companies to “prevent a paralysis” of their activities.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
Italease business plan rethink
Following the collapse of its planned merger with DZ Bank, Banca
Italease has announced plans to launch a new industrial plan by
March.
The Italian lessor was forced to re-state its plans for the
future after the talks ended late last year with the German banking
group, which also owns VR Leasing.
The announcement was made recently by Uilca, the Italian union
for the credit and insurance sector.
The Italian lessor reported significant losses in 2007 and 2008
following fall-out from derivative trades.
Santander launches €1bn line
Banco Santander has launched a credit line to finance activities
of small and medium-sized businesses, including €1 billion for
leasing operations.
The Spanish-headquartered group said it has offered €4 billion
to its “best self-employed customers” and to SMEs to help cover
their day-to-day financial needs in 2009.
It has also guaranteed medium-term financing for investment
projects during the credit crisis. Some €2 billion will be made
available for loans and insurance policies, and the remaining
€1 billion through new products.
Latvian interest rates static
Interest rates in the Latvian leasing market will remain static
in 2009, according to Daniils Rulovs, head of Swedbank Lizings.
He also foresaw continued demand for agricultural machinery
leasing, and predicted the car lease industry would continue to
decline.
Poland remains steady
2008 is expected to show a rise in new business for Polish
lessors, despite a worsening business environment. Poland’s top
three lessors are ranked in the same positions as they were at year
end 2007.
Europejski Fundusz Leasingowy is still in the lead with a
portfolio €1.2 billion, Raiffeisen Leasing ranks second with €1
billion of assets, followed by BRE Leasing in third place with a
€0.8 billion portfolio.
After Q3 2008, annual growth of 6.5 percent to 7 percent was
predicted, although this estimate may now be revised downward.
Romania hit by arrears
The distress in Europe’s developing vehicle finance markets is
reaching crippling levels, with auto leasing collapse making the
headlines in Romanian dailies along with a general upset in the car
and finance industries.
Romanian newspaper Cotidianul has reported massive repossession
and resale difficulties for car lessors, with arrears up 88 percent
year-on-year as of December 2008.
Half of that growth was said to have occurred in quarter four as
a result of customers returning leased cars unable to pay.
CSOB to close used car arm
Czech lessor CSOB Leasing, a subsidiary of CSOB bank and member
of the KBC group, has stopped financing used cars through leasing
as of January 2009. It is not known whether the decision will
affect commercial vehicle financing.
The change has occurred as a result of an alteration to VAT law,
which has made finance leasing unfavourable to lessors. Loan-based
financing, which made up 90 percent of CSOB’s used-car financing in
2008, will continue unaffected.
