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LONDON, UK & BERLIN, GERMANY - 22 Dec 2009: At the prestigious Asset Finance Conference organised by Leasing Life Magazine in Berlin, IBM (NYSE: IBM) has been awarded 'Captive Finance Provider of the Year'.
The awards, which recognise excellence in the finance sector, took place in Berlin, Germany earlier this month and saw the Global Financing arm of IBM win the European-based award.
A captive finance provider is a financing subsidiary which provides financing for the products its parent company sells. IBM Global Financing (IGF) provides financing for the purchase of IBM products; this ranges from a loan to purchase a single product, to multi-year financing for a complex multi-vendor solution which includes IBM technology.
At the awards, Brendan Malkin, Group Editor, Leasing Life, said: “IBM Global Financing is one of the world’s largest IT captives. It has remained innovative in today's high pressure environment whilst making a profit and sharing the ability to support the parent.”
Receiving the award, Carmen Ene, Vice President of IBM Global Financing for North East Europe said, “This award demonstrates the value that IGF brings clients by providing an integrated financing solution. We finance complete solutions: hardware, software and services, and as part of a solution we finance other suppliers' technology as well as the IBM products. The finance we offer can help our client to overcome investment hurdles and meet internal business case requirements. Teaming with IGF also enables a client to pay for their new IT acquisition using the benefits that flow from its use. IBM Global Financing can turn a desired investment into a practical proposition"
IBM Global Financing is the largest IT lender in the world. It helps businesses acquire IT solutions that are required with cost-effective and strategic options. IGF provides a variety of financing options to address unique solution requirements and help manage cash flow and assets.
Notes to editors
About IBM Global Finance
IBM Global Financing is the largest IT lender in the world, with an asset base of US $36billion and a client list which includes more than 90% of the FORTUNE Global100 list of companies. Our comprehensive portfolio of offerings has made us the world’s premier single-source provider for multi-vendor IT financing solutions. IGF can include hardware, software and professional services – from IBM as well as third-party manufacturers and vendors – in a single financing facility. With operations in more than 55 countries, we can also provide competitive rates in international currencies, like the US Dollar or Euro, and in local currencies when needed. And, with a strong financial profile, IBM Global Financing obtains funds at very competitive rates – savings that we share with our clients.
For more information visit: www-03.ibm.com/financing/uk/
About Asset Finance Conference and Awards
For more information visit: www.vrl-financial-news.com/events/assetfinance2009/default.asp?id=1