In an article in the March edition of Leasing Life, Patrick Beselaere, head of leasing at ING Bank, explains the reasoning behind the ING closure of its leasing operation in the UK and other European markets.
Put into a nut shell Mr Beselaere refers to the lack of capital in the banking sector causing ING and other banks to revert their concentration to core banking. He believes that bank owned lessors will be less dominant in the future.
A significant effect of the miss-management of banking policy worldwide has been the drying up of support and capital for SME markets. As the effect of banking withdrawal has affected jobs, town centres and consumer choices throughout the UK, is it not incumbent upon the banks to point the way to alternative lenders who are doing their best to fill the void?