DNB plans to finance $52bn in renewable energy and infrastructure projects by 2025

DNB is strengthening its commitment to sustainable investments with an ambition to fund renewable energy and infrastructure projects worth $52 billion (NOK450 billion) by 2025. In addition, it aims to finance green property development worth $15 billion (NOK130 billion) over the same period. Rune Bjerke, group chief executive of DNB, said: “Some see the 'green shift' as a big risk, but we choose to look at it as an opportunity. “We know that new winning industries will emerge both at sea and on land. We believe that infrastructure and renewable energy will be two such industries. They constitute great business opportunities for DNB if we manage to combine banking products with industry knowledge.”

DNB plans to finance $52bn in renewable energy and infrastructure projects by 2025

May 03, 2019

DNB is strengthening its commitment to sustainable investments with an ambition to fund renewable energy and infrastructure projects worth $52 billion (NOK450 billion) by 2025. In addition, it aims to finance green property development worth $15 billion (NOK130 billion) over the same period. Rune Bjerke, group chief executive of DNB, said: “Some see the 'green shift' as a big risk, but we choose to look at it as an opportunity. “We know that new winning industries will emerge both at sea and on land. We believe that infrastructure and renewable energy will be two such industries. They constitute great business opportunities for DNB if we manage to combine banking products with industry knowledge.”

White Oak UK and Spotcap launch partnership to expand customer choice

Business lenders White Oak UK and Spotcap are to work in partnership to improve access to finance for UK companies. White Oak UK’s offering includes asset finance, commercial mortgages and business finance, while Spotcap provides fully unsecured business loans, without the need for a personal guarantee. The two companies will work on a mutual referral basis, recommending each other to support a larger number of businesses with a wider range of needs.

White Oak UK and Spotcap launch partnership to expand customer choice

May 01, 2019

Business lenders White Oak UK and Spotcap are to work in partnership to improve access to finance for UK companies. White Oak UK’s offering includes asset finance, commercial mortgages and business finance, while Spotcap provides fully unsecured business loans, without the need for a personal guarantee. The two companies will work on a mutual referral basis, recommending each other to support a larger number of businesses with a wider range of needs.

New equipment business volume muted

New business volume in the equipment finance sector remains subdued according to the latest data from the Equipment Leasing and Finance Association (ELFA). Its monthly leasing and finance index (MLFI-25) suggests March’s performance was 10% lower than in the same period last year. The index shows overall new business volume for March was $8.2bn. Although volume was up 39% month-to-month from $5.9bn in February, cumulative new business volume was down 10% compared to the same period in 2018.

New equipment business volume muted

May 01, 2019

New business volume in the equipment finance sector remains subdued according to the latest data from the Equipment Leasing and Finance Association (ELFA). Its monthly leasing and finance index (MLFI-25) suggests March’s performance was 10% lower than in the same period last year. The index shows overall new business volume for March was $8.2bn. Although volume was up 39% month-to-month from $5.9bn in February, cumulative new business volume was down 10% compared to the same period in 2018.

EMEA

Diamond Bank UK acquired by Wyelands Bank owner Sanjeev Gupta

Apr 30, 2019

Diamond Bank UK, the British subsidiary of Diamond Bank of Nigeria, has been acquired by international businessman and entrepreneur Sanjeev Gupta. The bank is set to be renamed ‘the Commonwealth Trade Bank’ (CTB) and is expected to add to the financial services offering within Gupta’s GFG Alliance, an international group of business comprising metals, industrials, energy, finance and property businesses. CTB, which will be owned, governed and operated independently, has expertise in emerging and Commonwealth markets that is expected to complement Gupta’s other UK bank, Wyelands Bank.

Americas

Private companies struggling with lease accounting standard

Apr 15, 2019

A first report on how private companies are prepared for the new lease accounting standards that come into use in January 2020 suggests many have significant work remaining to meet the new requirements. The research study of 350 finance and accounting leaders from US-based private companies with $1 billion or more in revenue looked at their plans for implementing ASC 842. Overall, almost 55% of companies are finding the lease accounting project to be more complex than originally anticipated. Collecting data, modifying business processes and project managing the enterprise-wide effort are the top three challenges.

Asia Pacific

Identifying growth opportunities in Islamic finance

Feb 08, 2019

Islamic finance is available in 56 countries through 1,389 sharia-compliant companies that have total assets under management (AUM) of $2.4 trillion, according to a 2018 study from Thomson Reuters. In 2017, the market grew 11% and while recent expansion has been slower in core markets, such as the Gulf and south-east Asia, future trends are significantly rosier.