Ultimate Finance sets annual lending record

Specialist asset-based lender Ultimate Finance broke its annual lending record last year, providing funds of more than £1.6 billion to SMEs in the UK. The company’s loan book also reached a record £265 million during 2019, while clients also increased. Other highlights included asset finance, where the loan book reached a record of £55 million.

Ultimate Finance sets annual lending record

Jan 14, 2020

Specialist asset-based lender Ultimate Finance broke its annual lending record last year, providing funds of more than £1.6 billion to SMEs in the UK. The company’s loan book also reached a record £265 million during 2019, while clients also increased. Other highlights included asset finance, where the loan book reached a record of £55 million.

Nordea to acquire SG Finans for €575m and launch commercial partnership with SGEF

Financial services group Nordea has entered into an agreement with Societe Generale to acquire SG Finans. Nordea plans to combine the business with its pan-Nordic finance company Nordea Finance. SG Finans is a Norwegian-based subsidiary of Societe Generale and provides equipment finance and factoring solutions. It has 360 employees and operates in Norway, Denmark and Sweden. Executives at Nordea said the acquisition of SG Finans for €575 million fits well into the finance company’s priority to focus on core business in the Nordics.

Nordea to acquire SG Finans for €575m and launch commercial partnership with SGEF

Dec 19, 2019

Financial services group Nordea has entered into an agreement with Societe Generale to acquire SG Finans. Nordea plans to combine the business with its pan-Nordic finance company Nordea Finance. SG Finans is a Norwegian-based subsidiary of Societe Generale and provides equipment finance and factoring solutions. It has 360 employees and operates in Norway, Denmark and Sweden. Executives at Nordea said the acquisition of SG Finans for €575 million fits well into the finance company’s priority to focus on core business in the Nordics.

White Oak UK lending reaches more than £1.5 billion for first time

White Oak UK, one of the UK’s largest alternative providers of business finance, has increased lending to more than £1.5 billion through its own book. Since launching its own direct funding model, it has helped fund more than 30,000 businesses and in the past year has written more than 8,000 deals, through a mix of direct, introduced, brokered and aggregated channels. Funding through its own book has increased 50% since 2018, when its lending first grew beyond £1 billion.

White Oak UK lending reaches more than £1.5 billion for first time

Dec 16, 2019

White Oak UK, one of the UK’s largest alternative providers of business finance, has increased lending to more than £1.5 billion through its own book. Since launching its own direct funding model, it has helped fund more than 30,000 businesses and in the past year has written more than 8,000 deals, through a mix of direct, introduced, brokered and aggregated channels. Funding through its own book has increased 50% since 2018, when its lending first grew beyond £1 billion.

EMEA

Metro Bank financing supports innovation at Noumed Life Sciences

Dec 16, 2019

Challenger bank Metro Bank has provided Noumed Life Sciences with a £4.5 million asset finance facility to support the acquisition of new pharmaceutical manufacturing equipment. In addition to the asset finance package, Metro Bank has also become the company’s full commercial banking provider. Metro Bank finance will support Noumed’s production of pharmaceutical products to support the UK domestic market as well as exporting worldwide, including Australia.

Americas

Recession “more likely than not” in the next 12 to 24 months, ELFF study warns

Dec 09, 2019

A full or near recession is likely in the next 12-24 months, according to analysis of the latest economic data by the US Equipment Leasing and Finance Foundation (ELFF). Its Recession Monitor also suggests that a recession could also happen in the next 12 months, based on “the preponderance of economic data”, although the likelihood is less than 50%. The monitor survey is part of ELFF’s 2019 Horizon Report, which found that total equipment and software investment in 2018 stood at $1.8 trillion.

Asia Pacific

Identifying growth opportunities in Islamic finance

Feb 08, 2019

Islamic finance is available in 56 countries through 1,389 sharia-compliant companies that have total assets under management (AUM) of $2.4 trillion, according to a 2018 study from Thomson Reuters. In 2017, the market grew 11% and while recent expansion has been slower in core markets, such as the Gulf and south-east Asia, future trends are significantly rosier.