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Bank of the West, BNP Paribas Leasing Partner to Offer Equipment Finance Services

October 22, 2012, 07:00 AM
Filed Under: Industry News

Bank of the West and BNP Paribas Leasing Solutions are partnering to provide enhanced equipment finance and leasing services for capital equipment manufacturers and dealers.

Bank of the West and BNP Paribas Leasing Solutions have formed a joint marketing program to better serve BNP Paribas Leasing Solutions strategic partners operating in the United States.

“This is the best of both worlds – the strong U.S. based vendor finance capabilities and resources of Bank of the West and the expertise and resources of BNP Paribas Leasing Solutions, a global leader in vendor finance,” said Jerry Newell, Executive Vice President and Manager of Bank of the West’s Equipment Finance Division.

Under the BNP Paribas brand, Bank of the West will support BNP Paribas Leasing Solutions’ strategic partners, which are leading manufacturers of construction, agricultural, material handling and technology equipment. Bank of the West will offer a full array of products and services including retail equipment finance products, wholesale floor plan products and managed services.

The joint marketing program ensures a global approach to managing relationships and brings capabilities and resources specific to the competitive U.S. market.

With more than $3 billion in assets, Bank of the West’s Equipment Finance Division has 71,000 equipment finance contracts under management, 210 employees and operates in all 50 states.

“BNP Paribas Leasing Solutions is now able to offer its key clients a ‘One Provider Approach’ to facilitate their leasing needs and promote their business development in the U.S. market,” said Tony Taylor, Head of International Development for BNP Paribas Leasing Solutions.

Within BNP Paribas, BNP Paribas Leasing Solutions is specialized in leasing and rental solutions for professional equipment, offered either directly to businesses and professionals or through its partners – manufacturers, publishers and their distribution channels (dealers and resellers). With more than €30.3 billion of outstandings under management and 3,600 employees located worldwide, BNP Paribas Leasing Solutions is the European leader in equipment leasing and is today the only financial institution with such a wide-ranging offer, extending from simple leasing arrangements to long term rental solutions and IT asset management contracts. Thanks to its both global and local dimension, BNP Paribas Leasing Solutions is able to offer services and solutions that create value in 22 countries worldwide: directly in Austria, Belgium, France, Germany, India (Financial Company with SREI), Italy, Luxembourg, Netherlands, Poland, Portugal, Romania, Spain, Turkey, United Kingdom ; through BNP Paribas Group entities in Algeria (El Djazaïr), Egypt (BNP Paribas Egypt), Gabon (BICIG), Ivory Coast (BICICI), Morocco (BMCI Leasing), Senegal (BICIS), Tunisia (UBCI Leasing) and USA (Bank of the West).

Founded in 1874, $62.7 billion-asset Bank of the West, Member FDIC and equal housing lender, offers a full range of personal, commercial, wealth management and international banking services. The bank operates more than 700 retail and commercial banking locations in 19 Western and Midwestern states. Bank of the West is a subsidiary of BNP Paribas, which has a presence in 80 countries with nearly 200,000 employees.

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