Aldermore achieves £1bn asset finance milestone

Specialist lender Aldermore has marked a record year after supporting more than £1 billion of asset finance during 2017. The milestone has been achieved through key developments across the bank’s asset finance division, including the extension into new industrial sectors, such as telecoms and IT, as well as recruiting additional resource in its specialist underwriting function.

Aldermore achieves £1bn asset finance milestone

Dec 18, 2017

Specialist lender Aldermore has marked a record year after supporting more than £1 billion of asset finance during 2017. The milestone has been achieved through key developments across the bank’s asset finance division, including the extension into new industrial sectors, such as telecoms and IT, as well as recruiting additional resource in its specialist underwriting function.

Banks ‘too focused on profits over customer service’ say SMEs

Banks have not learned lessons from the last financial crisis and are still too focused on putting profit before service, UK SMEs claim. Branch closures, poor customer service and a focus on quick profits are all cited by SMEs as driving down bank standards, new research claims. According to a survey by CivilisedBank, nearly a quarter (24%) of UK SMEs believe that banks have failed to change the way they behave since the global financial crisis in 2008.

Banks ‘too focused on profits over customer service’ say SMEs

Dec 18, 2017

Banks have not learned lessons from the last financial crisis and are still too focused on putting profit before service, UK SMEs claim. Branch closures, poor customer service and a focus on quick profits are all cited by SMEs as driving down bank standards, new research claims. According to a survey by CivilisedBank, nearly a quarter (24%) of UK SMEs believe that banks have failed to change the way they behave since the global financial crisis in 2008.

Over-50s a growing force in UK economy

The number of over-50s in work is rapidly increasing and will make up the majority of the UK’s self-employed workforce within the next seven years, new research shows. Analysis by Hitachi Capital UK and the Centre for Economics and Business Research (CEBR) found a rebalancing of the economy away from younger generations, as the 24 million over-50s in the UK become an increasingly important demographic of entrepreneurs and business owners.

Over-50s a growing force in UK economy

Dec 18, 2017

The number of over-50s in work is rapidly increasing and will make up the majority of the UK’s self-employed workforce within the next seven years, new research shows. Analysis by Hitachi Capital UK and the Centre for Economics and Business Research (CEBR) found a rebalancing of the economy away from younger generations, as the 24 million over-50s in the UK become an increasingly important demographic of entrepreneurs and business owners.

EMEA

Investment funds acquire Haydock Finance

Dec 15, 2017

Investment funds managed by affiliates of Apollo Global Management have acquired a majority shareholding in Haydock Finance. Established in 1980, Haydock is one of the largest independent finance companies in the UK, offering hire purchase and finance lease funding to business customers nationwide. It has gross receivables of more than £125 million and provides asset finance for business assets including buses, coaches, industrial plant and machinery, trucks, trailers, commercial vehicles, cranes, agricultural equipment, machine tools and renewables.

Americas

Equipment asset-backed securities strong

Dec 15, 2017

The credit quality of US equipment asset-backed securities (ABS) transactions will remain strong in the coming year, owing to debtors’ continued financial stability and economic growth, reports Moody's Investors Service. According to the credit agency’s 2018 outlook for US equipment ABS, despite recent weakness in the agricultural sector, overall delinquencies and losses will remain near historical averages.

Asia Pacific

Political rows could hinder Australian business growth

Nov 09, 2017

More than half of Australian businesses expect the political environment to impact their ability to grow during 2018, new research has warned. SMEs and businesses in the electricity, gas and water sector are particularly sensitive to the political environment, according to Alleasing.