BNP Paribas Lease Group (BPLG), a BNP Paribas subsidiary specializing in capital goods finance, today announced it was acquiring Dutch finance company Leaseco Nederland B.V., which will shortly trade as BNP Paribas Lease Group B.V., a wholly-owned BPLG subsidiary.
Leaseco Nederland B.V. is one of the Netherlands' oldest leasing companies and is a subsidiary of the Dutch Bancassurer SNS Reaal Groep, which is today divesting its leasing operation to focus on its core businesses in retail banking and insurance.
Fully dedicated to capital goods financing for a portfolio of domestic and international middle-market companies and large corporates, Leaseco Nederland B.V. embraces the same range of business activities as BPLG. It has been growing steadily for several years and is constantly enhancing its profitability. The company's book presently stands at euros 125 million, with a 46% cost income ratio for 2003.
By acquiring a going concern in the Netherlands, BPLG will be able to consolidate its position in the Benelux countries as part of the growth strategy the Group has been pursuing for a number of years, designed to extend its European coverage. BPLG currently operates in 11 countries throughout Europe, namely Austria, Belgium, France, Germany, Hungary, Italy, the Netherlands, Poland, Portugal, Spain and the United Kingdom.
A member of the BNP Paribas group, BNP Paribas Lease Group (BPLG) specializes in financing capital goods for companies and professionals. Its core business is to provide appropriate financing solutions - traditional loans, financial and operating leases- and related services.
BPLG has been working in this field for over 50 years, providing customers with a comprehensive spectrum of financing solutions and building national and multinational partnerships, ranging from a basic recommendation agreement to setting up joint finance companies.
BPLG also operates in synergy with the BNP Paribas banking network, providing the capital goods and property leasing services that are distributed by the bank to its customers.
BPLG currently ranks as France's top leasing company, with a 21% market share. It is also a European market leader in financial and operating leasing solutions for companies and professionals.
For more information: www.bnpparibas-leasegroup.com