Asset Based Finance
The quarterly survey shows that new business rose by 14% compared with the first quarter of 2005 to almost £5.2 bn. Finance for plant, machinery and equipment recorded the biggest increase with new business up 23% in the first quarter. Both finance leasing and hire purchase were popular as methods for funding investment, with new business up 16% and 20% respectively in the first quarter. Martin Hall, FLA’s director general, said: “This latest set of figures is most encouraging for the asset finance industry particularly when viewed against relatively weak business investment figures more generally. It is indicative of the increasing popularity of asset finance as a method of funding those capital purchases which are vital to the health of UK businesses.”
Lombard Business Finance is the top leasing company in Europe
Lombard Business Finance has come first in the table of 100 top European Leasing Companies 2005 produced by Leaseurope, the European Federation of Leasing. The company, a subsidiary of the Royal Bank of Scotland, has last year conducted over €12million worth of new business within Europe. This compares to just over €5 million worth of business carried out by Lloyds TSB Asset Finance, which came ninth.
Paul Lynam, managing director at Lombard, said: "Our business continues to perform strongly across a number of markets. We continue to invest in a relationship model and our supporting infrastruture to deliver our customer proposition, and this is helping our customers to grow their businesses."
Fortis Lease came eleventh with €4.9 million, whilst Credit Agricole came thirteenth with €3.8 million.
At the bottom of the table are Russian leasing companies with RTC-Leasing JSC conducting merely €174,266 worth of new business and with Glavleasing JSC occupying the last place with only €49,491.
The ranking prepared by Leaseurope is released for the third year in a row to the public at large in the aim of improving the visibility of leasing at European level. This year, a record-breaking 272 organisations in total responded to the survey, out of which 209 are parent companies, located in 25 different countries (both EU and non-EU member states).
The companies presented in the ranking are members of the 32 national leasing associations covered by Leaseurope, which in turn represent more than 1,200 European leasing companies. Grouped together within Leaseurope, these national associations represent more than 90% of the entire European leasing market in 2005. The companies surveyed are representative of the leasing activities in Europe. With €141 billion worth of new contracts, they represent approximately 54% of the total 2005 Leaseurope market
Asset Finance Training
The Finance & Leasing Association (FLA) is to hold a workshop on 2-3 October on selecting, winning and retaining customers in the asset based finance industry. This workshop, Customers Really Matter (CRM), is designed for customers facing sales people in the medium to large corporate market who have had 12 months selling experience.
It will enable delegates to question how they progress through the sales cycle and learn new ideas and techniques to try new knowledge and skills to employ.
The course will teach delegates to examine their approach and attitude to prospecting and calling, to review financial information from a customer perspective, to understand the tax and accounting implications of various lease types and to consider how they make impact on the first face-to-face contact. The course fee for members is £875+VAT and £1125+VAT for non-members:. The fee includes accommodation, course materials and refreshments. The event will be held at 15-19 Kingsway, LONDON, WC2B 6UN |
