Bibby Financial Services sees SME turnover increase by 32%

International SME funder, Bibby Financial Services (BFS) reports it has seen global client turnover grow by almost a third year-on-year as SMEs around the world start to recover from the Covid-19 pandemic. Client turnover, or debts factored, increased by 32% from £1.8 billion in Q2 2020, to £2.4 billion in the second quarter of 2021. This resilient performance also continued in the first half of 2021 as restrictions lifted following winter lockdowns with monthly client turnover growing by 30%, from £0.7 billion in January to £0.9 billion in June.

Bibby Financial Services sees SME turnover increase by 32%

Jul 30, 2021

International SME funder, Bibby Financial Services (BFS) reports it has seen global client turnover grow by almost a third year-on-year as SMEs around the world start to recover from the Covid-19 pandemic. Client turnover, or debts factored, increased by 32% from £1.8 billion in Q2 2020, to £2.4 billion in the second quarter of 2021. This resilient performance also continued in the first half of 2021 as restrictions lifted following winter lockdowns with monthly client turnover growing by 30%, from £0.7 billion in January to £0.9 billion in June.

Acquis launches outsourced insurance management into Luxembourg and Poland

Acquis has expanded into Luxembourg and Poland and is now active in a total of 16 countries across the EU, plus the UK and Norway, with plans to grow globally. Established in 2009 in the UK, Acquis specialises in providing fully outsourced insurance management programmes for leased equipment.

Acquis launches outsourced insurance management into Luxembourg and Poland

Jul 30, 2021

Acquis has expanded into Luxembourg and Poland and is now active in a total of 16 countries across the EU, plus the UK and Norway, with plans to grow globally. Established in 2009 in the UK, Acquis specialises in providing fully outsourced insurance management programmes for leased equipment.

EU clears AerCap for take-off with $30bn GECAS deal

EU regulators have given the go-ahead for Irish aircraft lessor AerCap’s takeover of GE Capital Aviation Services (GECAS), in a $30 billion deal which will create the global leader in the market. The acquisition was first mooted in March this year, but was awaiting approval from the European Commission’s competition watchdog.

EU clears AerCap for take-off with $30bn GECAS deal

Jul 29, 2021

EU regulators have given the go-ahead for Irish aircraft lessor AerCap’s takeover of GE Capital Aviation Services (GECAS), in a $30 billion deal which will create the global leader in the market. The acquisition was first mooted in March this year, but was awaiting approval from the European Commission’s competition watchdog.

EMEA

NatWest to sell Ulster Bank asset finance business as part of Republic of Ireland withdrawal

Jul 28, 2021

NatWest Group is to sell Ulster Bank’s Lombard asset finance business to Permanent TSB as part of a €7.6bn deal which will see the British bank withdraw from Ireland. NatWest has signed a non-binding memorandum of understanding with Permanent TSB covering a perimeter comprising performing non-tracker mortgages, performing micro-SME loans, Ulster Bank’s asset finance business and a subset of its branch locations.

Americas

CIT upgrades B2B point-of-sale lending platform

Feb 20, 2020

The small business solutions arm of CIT Group has launched a new version of its point-of-sale lending platform. The platform is available online and on mobile devices to simplify financing for small business purchases of $2,500 or more. Business customers can shop for products, be approved for credit, select terms and receive electronic documents to secure their purchase electronically. The platform also provides real-time monthly payment quotes and automatically sends electronic documents to customers for review and e-signature.

Asia Pacific

Brand value of world’s largest banks contracts for first time since financial crisis

Feb 19, 2020

The total brand value of the world’s 500 largest banks has declined for the first time since 2009. Research by independent brand valuation consultancy Brand Finance found the global brand value of the top banks fell from $1.36 trillion at the start of 2019 to $1.33 trillion for 2020. Chinese banks occupy the top four places in the Brand Finance Banking 500, with ICBC retaining first place overall. It is the country’s biggest lender with 600 million customers.