Hitachi Capital (UK) profits rise as business units expand

Hitachi Capital (UK) has secured more than £3.5 billion in new business across its five divisions in the past year, the company has revealed in its full-year results. For the 2017/18 financial year, pre-tax profits were £116.4 million, a rise of 7.1% compared to the previous year. This marks the ninth successive year the company has increased profits, which are now six times the level achieved in the full year ending in 2010 (£18.8 million).

Hitachi Capital (UK) profits rise as business units expand

Aug 17, 2018

Hitachi Capital (UK) has secured more than £3.5 billion in new business across its five divisions in the past year, the company has revealed in its full-year results. For the 2017/18 financial year, pre-tax profits were £116.4 million, a rise of 7.1% compared to the previous year. This marks the ninth successive year the company has increased profits, which are now six times the level achieved in the full year ending in 2010 (£18.8 million).

ELFA publishes technology guidance

Equipment finance companies are innovating their business processes and recognizing the value of investing in technology upgrades in order to stay competitive in a fast-changing business climate, according to the Equipment Leasing and Finance Association (ELFA). In its 2018 software guide it highlights the leading software solutions for the industry and key technology trends for equipment finance companies. The association says research indicates several factors driving companies to upgrade or enhance technology.

ELFA publishes technology guidance

Aug 16, 2018

Equipment finance companies are innovating their business processes and recognizing the value of investing in technology upgrades in order to stay competitive in a fast-changing business climate, according to the Equipment Leasing and Finance Association (ELFA). In its 2018 software guide it highlights the leading software solutions for the industry and key technology trends for equipment finance companies. The association says research indicates several factors driving companies to upgrade or enhance technology.

NY investor buys North Mill

North Mill Equipment Finance has been acquired by an affiliate of Wafra Capital Partners (WCP). North Mill is an East Coast small ticket equipment finance company specializing in essential-use commercial and industrial equipment, principally in the transportation, construction and manufacturing markets.

NY investor buys North Mill

Aug 16, 2018

North Mill Equipment Finance has been acquired by an affiliate of Wafra Capital Partners (WCP). North Mill is an East Coast small ticket equipment finance company specializing in essential-use commercial and industrial equipment, principally in the transportation, construction and manufacturing markets.

EMEA

Equipment lessors boost awards total as judges report record number of entries

Aug 16, 2018

International Asset Finance Network (IAFN) has reported a record number of entries for its 2018 annual awards ceremony. Every year IAFN runs an awards programme. Nominations are judged by a panel of very senior industry executives and the winners receive their trophies at the awards dinner, which follows the conference. As the company has expanded IAFN’s programme to include equipment finance it has expanded the awards programme to cover equipment finance. As a result this year the judges are assessing the entries for some 20 industry awards.

Americas

Orix in $2bn deal to acquire stake in Avolon

Aug 14, 2018

Orix Aviation is to acquire a 30% shareholding in international aircraft leasing company Avolon in a deal worth $2.2 billion. On completion of the deal, the revised Avolon board will have two Orix directors, three directors from Bohai Capital, one independent director and Avolon CEO Dómhnal Slattery as executive director. The purchase is expected to complete in the fourth quarter of 2018.

Asia Pacific

Santander builds ties to support China’s $900bn Belt and Road initiative

Apr 12, 2018

Santander and Bank of Shanghai have announced a strategic alliance as part of China’s Belt and Road initiative, one of the world’s biggest infrastructure projects. The memorandum of understanding between the two banks will focus on Europe and Latin America elements of the Chinese-led project to connect its mainland, the ASEAN countries, the Middle East, and Central and Eastern Europe via road and maritime routes. The initiative is set to be the defining legacy of Xi Jinping, China’s president, which has already attracted world leaders to discuss how the initiative will develop.