Santander Corporate
Banking and Zenith Provecta, the fleet management specialist, have
jointly launched a fleet funding and management solution.
Under the terms of the
agreement, Santander will provide the funding of the fleet
(including contract hire, contract purchase, and sale and
leaseback), whilst Zenith Provecta will provide all other aspects
of a “fully integrated fleet solution”.
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The agreement is aimed at
Santander’s corporate customers and will target both car and light
commercial vehicle fleets.
Zenith Provecta’s CEO
Andrew Cope said: “This strategic partnership will see two
businesses with shared values and ambitions doing what they do best
– Santander offering a funding proposition to its customers and
Zenith Provecta providing high quality fleet management
solutions.”
Santander’s director of
asset finance Mike Oxby added: “The fleet market is currently
undergoing significant upheaval due to some of the larger leasing
companies rationalising their operations and capital constraint
issues for smaller independent companies; therefore I believe the
timing of our new dual branded proposition could not be
better.”
Earlier this year, in an
interview with Motor Finance’s sister publication
Leasing Life, Oxby said he plans to triple the size of his business in three
years – a target linked to Santander’s own ambition of gaining
a 10 percent market share of global corporate banking within the
same timeframe.
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