Dutch leasing company ING Lease, reported a successful year to
August with a portfolio grown by 11 percent year-on-year.
New business written in the small ticket segment has risen by 22
percent year-on-year, with overall new business increase falling
slightly short of this figure.
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The reason for this lower growth average, according to CEO Chris
Stamper, can be found in the middle ticket segment.
“Whereas middle ticket business for the year so far is at 218
percent of budget, it’s less than we did in 2007 due to some huge
deals in the middle ticket sector last year,” said Stamper.
Much of ING Lease UK’s middle ticket market comprises other
financial institutions. For these companies, explained Stamper,
significantly raised margins have made the sort of deals made in
2007 look less appealing.
Nevertheless, despite this, new business levels and profits have
remained comfortably ahead of budget at ING, according to Stamper.
Meanwhile, very little has been changed in terms of staffing or
company strategy. Most noteworthy in terms of staffing at ING has
been the deployment of six commercial mortgage specialists, who
have written some of the company’s most profitable recent business.
ING’s IT systems have also been upgraded.
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By GlobalData“We continue to use CHP’s Alpha software, and we’re very happy
with it,” said Stamper. “However, we have spent some time enhancing
the automated proposal and acceptance system.”
Stamper also mentioned recent redesign work on ING Lease’s UK
website which, he said, reflects ING’s approach to acquiring new
business.
Fred Crawley
