May 03, 2018
Volvo Financial Services, part of truck and equipment manufacturer Volvo Group, financed more than 53,000 units in the first quarter of 2018, a rise of nearly 10% compared to the same period last year. The division funded 25% of group sales in markets where the business offers financial services. New retail financing volume grew nearly 13% to SEK13.2 billion ($1.5 billion), with the net credit portfolio reaching SEK135 billion ($15.3 billion).
May 24, 2018
Hitachi Capital America (HCA) posted a double-digit increase in assets last year amid plans to continue its push to widen its lending base beyond its traditional transportation market. Total assets surpassed $3 billion and total funded volume reached $4.6 billion, the company revealed.
Apr 12, 2018
Santander and Bank of Shanghai have announced a strategic alliance as part of China’s Belt and Road initiative, one of the world’s biggest infrastructure projects. The memorandum of understanding between the two banks will focus on Europe and Latin America elements of the Chinese-led project to connect its mainland, the ASEAN countries, the Middle East, and Central and Eastern Europe via road and maritime routes. The initiative is set to be the defining legacy of Xi Jinping, China’s president, which has already attracted world leaders to discuss how the initiative will develop.