All articles by Lorenzo Migliorato

Advantage revenues up 30% to £78m as underwriting tightens

Revenues in Advantage, the motor finance division of consumer lender S&U, hit £78m in 2017, up 30% from the previous year.

FOS to carry out internal review after Channel 4 undercover report

The Financial Ombudsman Service (FOS) is to carry out an internal review following an exposé on Channel 4’s “Dispatches” programme, chief executive Caroline Wayman has said.

Moneyway revenues grow 16% as legacy subprime impairments rise

Moneyway revenues rose 16% to £47.1m in 2017, parent Secure Trust Bank has reported in its first full-year results since moving out of subprime consumer finance.

Close Brothers MF appoints chief operating officer

Close Brothers Motor Finance has appointed a chief operating officer to succeed to Liam Quegan.

Ford launches online storefront in the US

Ford is to launch an online storefront in the US which will allow customers to search inventory, check trade-in incentives and apply for finance before their visit to a dealership.

Volkswagen Bank singles out UK as main bearer of residual value risk

Volkswagen Bank, parent of Volkswagen Financial Services UK since September, said the UK accounts for 60% of its residual value risk exposure, which it put at a total of €433m (£380m).

IFC Fleet acquires B2B rental provider

Fleet management and logistics company IFC has acquired Fownd, a provider of daily rental for commercial vehicles, for an undisclosed sum.

Moody’s warns of diesel ban threat to German auto finance

Germany’s decision to city authority bans on diesel vehicles poses a risk to auto finance companies in the country, rating agency Moody’s has warned.

Alphabet expands into Portugal through local partner

Sixt Leasing reduces diesel vehicle numbers

Sixt Leasing has detailed plans to reduce the presence of diesel vehicles in its fleet, and hedge against possible vehicle devaluation and fuel bans.