SG Equipment Finance increases its profitability and closely monitors risks in 2008

In 2008, the leasing market slightly fell by 3,1% in the equipment leasing sector, according to Leaseurope estimates. In this context, SG Equipment Finance not only achieved robust growth rates but also succeeded in offsetting the adverse consequences of  the economic slowdown and the growing rate of defaults, by increasing its net banking income and improving operational efficiency through significant cost-cuttings. Thanks to our focus on operational efficiency and active cost management, our 2008 operating result increased as compared to that of 2007. In 2009, we are expecting a slower growth of our outstandings and will pursue our operating efficiency actions to partially offset the growing Cost of Risks. In addition, we should benefit from the positive impact of Basel  II on our activities.

SG Equipment Finance originated new business worth € 11,3 Billion in 2008 which is well spread across a wide range of products, from small-ticket flow business to big-ticket deals. The volume of managed assets had grown to over € 23 Billion by the end of 2008.

More information in the brochure "SG Equipment Finance at a glance 2008".