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Feature: Lending at the bottom of the cycle
08 June 2010
Alex Aupoix, vice president of asset finance at Crédit Industriel et Commercial, discusses about lending in the downtimes.
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Crédit Industriel et Commercial
CIC
Alex Aupoix
Asia Pacific
Fewer lenders and good margins in 2009 meant that banks could make quite a bit of money with airfinance transactions in 2010. Alex Aupoix, vice-president, asset finance, CIC, says 2009 was an important year and one of the most active for the bank in a long time.
Credit Industriel et Commercial (CIC) financed about $500 million-worth of aircraft in 2009. That may not seem like a lot compared with some banks. However, considering the 15 transactions were all commercial debt – when only a few banks were in the market, primarily lending export credit – it is impressive.
"It was only commercial debt that we did in 2009 – not export credit – so it’s a fairly important chunk of the [real] commercial aircraft financing," he says. "You won’t see CIC in the league tables too much because we’re not volume driven.We’re not chasing titles, but we want to make sure...
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