Fitch revises rating on trio of equipment rental companies

Fitch Ratings has upwardly revised the Outlook ratings on three European equipment rental companies, with Ashtead Group, Boels Topholding and Modulaire Investments all moving from Negative to Stable, while their Issuer Default Ratings were affirmed at the current levels.

Fitch revises rating on trio of equipment rental companies

Jun 08, 2021

Fitch Ratings has upwardly revised the Outlook ratings on three European equipment rental companies, with Ashtead Group, Boels Topholding and Modulaire Investments all moving from Negative to Stable, while their Issuer Default Ratings were affirmed at the current levels.

Shawbrook’s loan book up 5.4% to £7.5 billion in latest update

Shawbrook Bank has announced a 5.4% loan book increase to £7.5 billion in its latest trading update for Q1 2021. According to Shawbrook, the strong financial and resilient operational performance over the quarter was primarily driven by improving origination levels and demand from new-to-bank business finance customers.

Shawbrook’s loan book up 5.4% to £7.5 billion in latest update

May 19, 2021

Shawbrook Bank has announced a 5.4% loan book increase to £7.5 billion in its latest trading update for Q1 2021. According to Shawbrook, the strong financial and resilient operational performance over the quarter was primarily driven by improving origination levels and demand from new-to-bank business finance customers.

Barclays launches asset finance cashback scheme backed by £300m

Barclays has introduced a new cashback scheme for flexible asset finance, to encourage businesses to invest in vehicles, equipment, plant and machinery. An initial £300m has been made available to enable more SME hire purchase and leasing, with companies benefiting from 0.25% cashback on finance of over £10,000. Businesses with up to 250 employees and a turnover of up to c£44m are eligible to apply. The new scheme has been facilitated by Barclays’ participation in the ENABLE guarantee programme run by the British Business Bank, the UK-government-owned economic development bank.

Barclays launches asset finance cashback scheme backed by £300m

Aug 07, 2018

Barclays has introduced a new cashback scheme for flexible asset finance, to encourage businesses to invest in vehicles, equipment, plant and machinery. An initial £300m has been made available to enable more SME hire purchase and leasing, with companies benefiting from 0.25% cashback on finance of over £10,000. Businesses with up to 250 employees and a turnover of up to c£44m are eligible to apply. The new scheme has been facilitated by Barclays’ participation in the ENABLE guarantee programme run by the British Business Bank, the UK-government-owned economic development bank.

EMEA

UK SMEs to invest £150,000 to boost economy as Bibby’s £300 million recovery fund sparks optimism

May 17, 2021

The average small business is planning to invest £150,000 in the coming months, according to a new study from Bibby Financial Services (BFS). The study, which surveyed 500 UK SME business owners in March, also found that SMEs operating in different sectors were intending on investing different amounts. For example, small businesses in the construction sector intended to invest £225,000, whereas those in transport planned to invest £209,000.

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.