NatWest sells Ulster Bank’s Lombard asset finance business to Permanent TSB

Lombard Asset Finance has been acquired by Permanent TSB for €400m as part of a £7.6bn sale by NatWest of elements of its subsidiary Ulster Bank’s retail, SME and asset finance business in the Republic of Ireland. Subject to regulatory approval, the transaction is expected to be completed in Q4 2022 and no later than June 2023.

NatWest sells Ulster Bank’s Lombard asset finance business to Permanent TSB

Jan 06, 2022

Lombard Asset Finance has been acquired by Permanent TSB for €400m as part of a £7.6bn sale by NatWest of elements of its subsidiary Ulster Bank’s retail, SME and asset finance business in the Republic of Ireland. Subject to regulatory approval, the transaction is expected to be completed in Q4 2022 and no later than June 2023.

Bumpy road ahead for asset finance sector in 2022

News of a new Covid variant has meant hopes of a swift end to pandemic disruption are receding, and has cast a shadow over the outlook for the asset finance sector over next twelve months. Data from trade associations and consultancies suggests that while the market has been improving, the restrictions imposed in response to Omicron are likely to dampen demand, while the auto finance sector is struggling with a shortage of new cars and a hike in used car prices.

Bumpy road ahead for asset finance sector in 2022

Dec 15, 2021

News of a new Covid variant has meant hopes of a swift end to pandemic disruption are receding, and has cast a shadow over the outlook for the asset finance sector over next twelve months. Data from trade associations and consultancies suggests that while the market has been improving, the restrictions imposed in response to Omicron are likely to dampen demand, while the auto finance sector is struggling with a shortage of new cars and a hike in used car prices.

LCI expands helicopter leasing offer with Nova Capital Aviation (Ireland) acquisition

Aviation leasing specialist LCI is to acquire Nova Capital Aviation (Ireland), the twin-engine rotary and fixed-wing aircraft lease division of the Nova Capital Group, as it seeks to grow its presence in the on-shore mission critical services space. The deal increases LCI's leasing platform to over 140 twin-engine rotary and fixed-wing aircraft, and takes the proportion of aircraft deployed on emergency medical services (EMS), search and rescue (SAR), off-shore wind and utility missions, to over 80% of the entire leasing platform.

LCI expands helicopter leasing offer with Nova Capital Aviation (Ireland) acquisition

Dec 03, 2021

Aviation leasing specialist LCI is to acquire Nova Capital Aviation (Ireland), the twin-engine rotary and fixed-wing aircraft lease division of the Nova Capital Group, as it seeks to grow its presence in the on-shore mission critical services space. The deal increases LCI's leasing platform to over 140 twin-engine rotary and fixed-wing aircraft, and takes the proportion of aircraft deployed on emergency medical services (EMS), search and rescue (SAR), off-shore wind and utility missions, to over 80% of the entire leasing platform.

EMEA

Arena TV insolvency puts asset finance sector in the spotlight

Nov 30, 2021

The asset finance industry looks set to come under increased scrutiny, after recent national media coverage of events surrounding the sudden collapse of outside broadcast specialist Arena Television. A range of lenders are said to be at risk of facing significant losses on the funding provided for equipment supplied by the company for coverage of a range of major sporting and entertainment events.

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.