european news > IN BRIEF
PROMOTING THE APPEAL OF LEASING As an initiative designed to widen the understanding of the benefits of leasing, the Dutch Leasing Association has launched
www.allesoverlease.nl, an online leasing resource aimed at
providing general
information on the leasing product to the public. The website includes easy-to- understand explanations of the product and its benefits and includes useful FAQ and news sections where those wanting to find out more about leasing can further their basic knowledge. Are you aware of similar initiatives in your country? If so, Leaseurope would like to know,
a.valette@
leaseurope.org
please contact
AIB LAUNCHES SME FUND Allied Irish Banks (“AIB”) said that this fund will be available to all existing or potential clients in this sector. This initiative is part of AIB’s recapitalization commitment to the Irish Government of an additional 3 billion euros in new or additional SME lending in 2011. AIB Bank head of Asset Finance and Intermediary Business, Robin Bradley, said almost all businesses require some form of equipment financing. Asset financing, through AIB’s hire purchase and leasing products, is particularly suitable for those businesses that wish to preserve existing working capital credit lines for prudent cash management.
Key streamlines European operations as profits grow
ey Equipment Finance has been busy recently putting into place its 2011 strategy and response to market conditions in Europe, and the opportunities they represent. Overall the group has recorded its fourth consecutive quarter of profit growth, and as regards recent changes, stated, “At Key Equipment Finance, we are continually looking for ways to better meet the needs of our clients while remaining competitive in the global market. As such, we are streamlining our European operations and will now serve all European clients from our centralized offices in the UK, France, Germany, Italy, and Spain. The European market is a top priority for Key Equipment Finance, and we remain fully committed to meeting the
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needs of our clients in the United States, Canada and Europe.”
Recent results for the Group show net income for the fourth quarter, 2010 was $20 million compared to a net loss of $35 million for the same year ago period. It was KEF's fourth consecutive quarterly profit since the beginning of 2010. KEF's net charge-offs in the quarter were $7 million, down from $25 million sequentially and $21 million in the same quarter last year. Non-performing assets at period end were $68 million compared to $122 million at the end of the fourth quarter in 2009. Average full time equivalent employees in the fourth quarter were 529 compared to 586 in the fourth quarter last year.
EBRD in immunity move T
he EBRD has agreed to a request from the UK Foreign and Commonwealth Office to lift the immunity of a fifth member of the delegation assigned to the EBRD by the Russian government. The City of London Police have informed the Bank that the person was, subsequently, taken to their offices for questioning. The delegation member is not an EBRD employee but was working at the EBRD as a junior representative of the Russian government, a
shareholder of the EBRD.
This latest request follows an announcement on 18 January 2011 that the immunity of four other officials had been lifted. The EBRD had already conducted its own investigation and the results have been shared with the UK and Russian authorities. The matter is now in the hands of the UK police and the Russian authorities. The EBRD continues to work closely with them both.
ecent senior appointments at two Unicredit leasing subsidiaries in eastern Europe has thrown a spotlight on how Unicredit has expanded in those locations.
Unicredit Leasing Slovakia. owned by the sub holding company UniCredit Leasing S.p.A. Italy (71.3 percent), by UniCredit Bank Slovakia a. s. (19.9 percent) and by UniCredit Leasing CZ, a.s. (8.8 percent), is one of the leading market players in the country, regularly ranking in the top three in the market over
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Unicredit in top positions in Eastern Europe R
several years.
UniCredit Leasing Slovakia has established a network of 13 points of sale throughout the country, in Bratislava, Banská Bystrica, Dunajská Streda, Komárno, Košice, Nitra, Poprad, Prešov,
Prievidza, Rožňava, Trenčín, Trnava and Žilina. The managerial team supporting the new CEO, Jakub Dusilek, has recently been reinforced with Angeline Michelle Koch in the role of CFO, and Lukáš Musílek as Chief Risk Officer. Unicredit Leasing Croatia, wholly
www.leasingworld.co.uk ■ March 2011
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