Banking Competition Remedies (BCR), the independent body established to implement £775m RBS funding known as the State Aid Alternative Funding Package, has appointed an executive director and targeted…
Lex Autolease hits 100,000 broker-originated deals
Lex Autolease, the fleet and leasing division of Lloyds Bank, has hit 100,000 broker-originated deals, as brokerage becomes an increasingly important pipeline for the company.…
Reward Finance grows loan book to £53m
Reward Finance grew its loan book to £53m (£60m) in the 12 months ending February, an increase of 29% on the previous year.…
Close, Amicus, Leumi lessee goes bust with £4m outstanding
A debtor to Close Brothers Asset Finance, Leumi ABL and Amicus Asset Finance has gone into administration with a total of around £4m (€4.5m) in total owed to the three lenders.…
Paragon asset finance business doubles its lending to SMEs
Paragon Banking Group’s asset finance lending into small and medium-sized UK businesses in H1 2018 was up 54% to £164m compared with the same period last year.…
BBI provides £12m to Universal Leasing
British Business Investments, the commercial arm of the British Business Bank, is investing £12m into North West-based Universal Leasing, an independent asset finance specialist which trades under the…
Santander discloses £91m bad debt from Carillion reverse factoring
Santander UK’s impairment from the Carillion reverse factoring scheme totalled £91m (€103m), a letter from the bank to British MPs has revealed, along with details on how the scheme operated.…
FLA: Asset finance business down 5% in March
Asset finance new business fell 5% year-on-year in March to £3.3bn, with IT equipment recording a particularly steep fall, figures from the Finance and Leasing Association have shown.…
Volvo FS revenues up 13% in first quarter
Truckmaker Volvo’s financial services division reported revenues of SEK 602m in the first quarter of 2018, up 13.3% year-on-year.…
Moody’s: End of BoE funding schemes will cost banks £803m
The end of the Bank of England (BoE)’s discounted-rate funding schemes will cost the banks extra £803m (€925m) in interest expenses, analysts at Moody’s have said.…