Lombard Marine Finance are Enjoying a Successful Southampton Boat Show
17 September 2008 – Lombard Marine Finance has reported an increase in demand for funding and in particular for sail boats at this year’s Southampton Boat Show. Results have shown a 58% increase in the value of funding applications received so far.
Ian Braham, Head of Lombard Marine Finance said:
"This year's show is going really well and we can already report an increase in both the number and the
value of applications for finance compared to the halfway point at last year's show. Generally speaking we have
noticed sales at the lower end of the market slowing and larger transactions producing higher volumes of business
but at the show so far, we have seen that applications are strong in the core market. At last year's show and
this year's London Boat Show we noticed an increased interest in sail boats and this has continued, meaning
a consistent 50/50 split with motor boats."
Lombard has also reported 2008 as a good year for business with turnover up 30% on the same period last year. Ian adds: "At a time when some finance providers are withdrawing from the market or reducing their activities in the sector, we are continuing to invest in the business and as a result, have seen an increase in turnover this year compared with the same period last year. Although purchasers appear to be more cautious than at the last Southampton show, we're very happy with our results so far as more purchasers are choosing Lombard."
For more information on marine finance please visit www.lombard.co.uk/marine or visit stand E46.
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For more information, please contact:
Claire Meeghan
Media Manager
Tel: +44 (0)20 7427 9023
Email: claire.meeghan@rbs.co.uk
Notes to Editor:
Lombard is the asset finance arm of The RBS Group is one of the world's leading financial services companies providing a range of retail and corporate banking, financial markets, consumer finance, insurance, and wealth management services. RBS Group operates in over 50 countries across Europe, the Americas, Asia and the Middle East serving more than 40 million customers and employing more than 170,000 people. The Group's brands include RBS, NatWest, Ulster Bank, Coutts, Citizens and many other "household name" financial services companies.
