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May 24, 2010updated 12 Apr 2017 4:23pm

Santander and Zenith Provecta launch fleet solution

Santander Corporate Banking and Zenith Provecta, the fleet management specialist, have jointly launched a fleet funding and management solution for the UK market. Under the terms of the agreement, Santander will provide the funding of the fleet (including contract hire, contract purchase, and sale and leaseback), whilst Zenith Provecta will provide all other aspects of a "fully integrated fleet solution".

By Antonio Fabrizio

Santander Corporate Banking and Zenith Provecta, the fleet management specialist, have jointly launched a fleet funding and management solution for the UK market.

Under the terms of the agreement, Santander will provide the funding of the fleet (including contract hire, contract purchase, and sale and leaseback), whilst Zenith Provecta will provide all other aspects of a “fully integrated fleet solution”.

The agreement is aimed at Santander’s corporate customers and will target both car and light commercial vehicle fleets.

Santander’s director of asset finance Mike Oxby said: “The fleet market is currently undergoing significant upheaval due to some of the larger leasing companies rationalising their operations and capital constraint issues for smaller independent companies; therefore I believe the timing of our new dual branded proposition could not be better.”

Earlier this year, Oxby told Leasing Life he plans to triple the size of his business in three years – a target linked to Santander’s own ambition of gaining a 10 percent market share of global corporate banking within the same timeframe.

Antonio Fabrizio

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