International car lessor Lease Plan
has announced plans to raise €1.5 billion (£1.3 billion) with the
launch of its online retail bank.
The Dutch lessor’s CFO, Guus Stoelinga, also told
Dutch TV channel RTL-Z the company expects it will need to borrow
more money through government guarantees.
With institutional investors unlikely to provide
more finance, LeasePlan hopes the internet retail bank will plug
the gap. Because LeasePlan obtained a banking licence in 1993, all
it needs is a regulatory nod before starting the venture.
LeasePlan was the first Dutch company to borrow
under a state guarantee scheme. Since December 2008 it has issued
bonds for over €6.1 billion (£5.2 billion).
Last month, the lessor announced a German
investment company, Fleet Investment – owned by German banker
Friedrich von Metzler, would acquire 50 percent of its shares,
after two of its Gulf co-investors decided to divest their
The remaining 50 percent is owned by