Margin pressure contributed to a small year-on-year decline on
the percentage of business contributed by the asset and motor
finance arms of HBOS during 2007.
However, while the bank’s asset solutions arm, run by Lindsay
Town, provided 6 per cent of advances provided by the bank’s
corporate arm, total loans by the latter increased by £19.7bn to
reach £109.3bn.A spokesman said lending in asset solutions
increased by £280m in 2007.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The bank admitted margin pressure “continues”, although the
business is being driven through investment in systems – provided
by CHP Consulting’s Alfa product – and focus on key major contracts
by its vehicle division, which includes rental and leasing company
Hill Hire.
New business by the bank’s Specialised Industry Finance (SIF)
arm, which includes transport, energy, telecoms, infrastructure and
housing, totalled £17.5bn, representing 16 per cent of new business
in the bank’s corporate division. Products offered by SIF include
leasing. Its transport arm, run by Michael Hardwick, includes CB
Rail, a rolling stock finance joint venture with Babcock &
Brown, as well as marine and aerospace finance.
In recent months, HBOS’s Capital Bank changed its name to Bank
of Scotland Dealer Finance, which is run by George Grant, who
reports to Town and recently put together a new management team
that will be responsible for launching a new business model based
on three distinct disciplines: distribution, strategic accounts and
products. It has also launched a dealer development programme
called Evolution.
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
