Société Générale Equipment Finance financed assets worth CZK 7.2 billion in 2011

Press release

3/12/2012
8:00 AM

In 2011, Société Générale Equipment Finance financed assets worth CZK 7.2 billion, implying a growth of 6.5% year-on-year.

With its 16% share of the target market, Société Générale Equipment Finance continues to be one of the major financial partners of companies and businesses in the Czech Republic. The 6.5% growth in the volume of financing outperforms the whole market in the segments in which Société Générale Equipment Finance operates.

“Société Générale Equipment Finance is traditionally the strongest in the financing of transport vehicles and machinery and equipment. But we also carried out interesting deals in rail transport, building and farming machines as well as in high-tech equipment. The joint venture with Komerční banka in May 2011 had positive impact on our business development,” said Reinhold Knödl, CEO of Société Générale Equipment Finance in the Czech Republic.

In terms of financing products, financial leasing registered the strongest growth in 2011: the financed value increased by 13.66%. Demand for credit and hire purchase on the part of businesses also continued to rise, the financed values grew by 4.16%.

At the end of 2011, the success of that year was highlighted by the Vendor Finance Provider of the Year award, won by the European group Société Générale Equipment Finance for the second time in a row. The expert jury of the prestigious Leasing Life magazine selected Société Générale Equipment Finance as the best finance provider in a competition between large international companies. It granted the award mainly for “its determination to grow in Vendor Finance by building and reinforcing partnerships, developing creative sales strategies and vendor offerings across a broad range of business segments”.