Credit, Collections & Insolvency News
Equipment finance specialist Kennet Equipment Leasing has announced a partnership with Leasepath, the cloud-first Intelligent Workplace Finance Origination (LOS) and Customer Engagement (CRM) platform built for asset finance1. Part of the Star Asset Finance network, Kennet has adopted the true cloud Leasepath platform across the entire enterprise, giving them a centralised hub to empower their…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in March 2023 by 14% compared with the same month in 2022. In Q1 2023, new business was also 14% higher than in Q1 2022. The business new car and commercial vehicle…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in February 2023 by 20% compared with the same month in 2022. In the first two months of 2023, new business was 13% higher than in the same period in 2022. The…
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A report by Oxera commissioned by SME lender Allica has found that proposed changes to UK bank capital rules could result in a £44 billion drop in lending to SMEs. The research suggests that the Prudential Regulatory Authority (PRA) could put up to £44 billion of SME lending at risk. In November 2022, the PRA…
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UK Finance has reported that a loss of confidence resulted in lower SME borrowing in Quarter 4 (Q4) 2022. The report showed that gross lending by the main high street banks totalled £18.4bn over 2022. Due to economic uncertainty and rising interest rates, SMEs were more cautious in the latter half of the year with…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in January 2023 by 8% compared with the same month in 2022. In the twelve months to January 2023, new business was 6% higher than in the same period in 2022. The…
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Asset-based lending specialist, Cynergy Business Finance (CBF) has announced that it has appointed Lorraine Udale as Head of Operations. Udale will bring nearly 30 years’ experience within the asset-based lending, invoice discounting and factoring sectors to the team. She joins the Manchester-headquartered business from Praetura Invoice Finance, where she had previously worked as operations director…
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Metro Bank has appointed Kevin Tonge as Regional Director for Asset Finance. Tonge has over 20 years’ industry experience and joins from Aldermore Bank where he has held a number of asset finance roles for the last nine years, as well as holding other senior positions at Novuna and ING Lease UK. Tonge will focus…
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New figures released today by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in December 2022 by 16% compared with the same month in 2021. In 2022 as a whole, new business was 6% higher than in 2021. The plant and machinery finance and…
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Lloyds Bank Business & Commercial Banking has announced that it has appointed Tim Biddle as Head of Invoice Finance and Asset Finance Field Sales. Biddle will be responsible for helping to shape the execution of Lloyds Bank’s Invoice Finance & Asset Finance sales strategy, and will lead its UK-wide team. He joins from Paragon Bank, where…
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Bibby Financial Services’s (BFS) asset finance division, Bibby Leasing, has announced a series of new hires and a refocused growth strategy to increase lending throughout the UK. Sean Taylor joins as Head of National Broker Sales from Renaissance Asset Finance where he was Senior Corporate Sales Executive. With over 16 years’ experience in asset finance, Sean…
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Lambert Smith Hampton has announced that it has appointed Shaun Hampton-Matthews has joined as Director, Asset Based Lending in its Asset Advisory division Hampton-Matthews has a wealth of experience from his 40-year career spanning Banking, ABL and restructuring, having spent 15 years with the Lloyds Bank Group and the last 25 years with the KPMG/Interpath…
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Bank-to-business lending is forecast to contract 3.8% (net) this year, from net growth of 3.7% in 2022, before returning to growth (of 0.9% net) in 2024 according to research by EY Item Club. UK assets under management are forecast to grow 2.6% this year and 6.5% in 2024, after a projected fall of almost 11%…
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