reported a 16.5 percent increase in net profits for its first three
quarters.
after the merger of Intesa Leasing and SanPaolo Leasint, the
leasing arms of two major Italian banks.
The increase from last year relates to the combined figures of
the two companies when they were separate entities.
Net profits for Q1-Q3 were €67.2 million, and the new business
volume totalled €4.4 billion, unchanged on a year-on-year
basis.
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Spanish brokers go international
CreditServices, a Spanish financial broker which also deals with
the leasing sector, has started to internationalise its
activities.
After expanding to neighbouring Portugal, CreditServices, which
is a member of the Spanish National Society of Financial Credit
Establishments, has now announced that it is adapting its
“know-how” to international markets, as it plans an expansion in
Europe and beyond.
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By GlobalDataIt recently entered the Italian, Bulgarian, Romanian and Polish
markets, and plans to enter
10 more countries in the next five years.
Ubi Banca denies merger talk
Ubi Banca has denied speculation it is in merger talks with
Banco Popolare, Banca Italease’s main shareholder.
The two Italian banks have been rumoured to be considering a
merger after Banco Popolare saw its shares plunge in the past few
days because of difficulties faced by its leasing arm.
Despite repeatedly denying these merger claims, Ubi Banca, which
owns Ubi Leasing, has seen drops in its share price on Milan’s
stock exchange.
Latvia’s signs biggest factoring deal
SEB Lizings, the leasing arm of Latvian financial services group
SEB, has signed a €77 million factoring deal with Latvian natural
gas supplier Itera. This is the largest factoring deal ever signed
by SEB in Latvia, and will allow Itera to purchase gas supplies
from partners including Russian Gazprom, the world’s largest gas
producer. Itera received the funds in two instalments – one for €52
million in Q2 2008, and another for €25 million in late Q3.
Hypo Alpe Adria requests €1.3bn aid from
state
Austrian bank and lessor Hypo Group Alpe Adria (HGAA) is
requesting up to €1.3 billion in state aid, in an attempt to shore
up its capital ratio. HGAA’s core capital ratio is 5.5 percent, and
it intends to raise this to over
9 percent. German public lender BayernLB is considering an
injection of up to €600 million into HGAA. With 7,400 employees and
370 offices in 12 countries, HGAA saw a net loss of €61.9 million
in 2008’s first half.
Credit Suisse signs €29.7m port lease deal
Russian Uralsib bank and Credit Suisse have together signed a
€29.7 million loan agreement to Uralsib group subsidiary Uralsib
Leasing Company, in order to fund a single large contract. The
deal, with a term of five years, will finance a quantity of port
equipment to a client in St Petersburg. The funding loan has been
secured by the Finnvera export credit agency. Anton Zur, head of
international business at Uralsib, announced the deal as good
evidence of the bank’s stability.
Government capital injection for Polish
leasing
The Polish government is considering a package of guarantees to
make it easier for SMEs to obtain loans and leasing. In a
governmental plan for tackling the financial crisis, Michal Boni,
secretary of state at the Prime Minister’s Chancellery, has asked
that the National Fund of Loan Guarantees at the state-owned BGK
Bank receive up to 2 billion zlotys (€500 million) to act as
guarantor. According to Boni, this would allow the injection of
€5.2 billion into the economy in 2009 via loans and leasing.
