Siemens Financial Services Increases Market Share

Digital Networks Limited (DNL), a provider of marketing and online services to the asset finance industry, has published its annual report on the asset financing industry and has named Siemens Financial Services (Siemens) as the leading provider of leasing to the public sector for the third year running.

Calculated by value of assets financed, Siemens is shown to have increased its market share from 23.7% to 26% over the last year, enabling the company to retain its top position in the public sector lessors’ ranking. The accolade reflects Siemens’ firm focus on providing public sector organisations with a quality of service that is unrivalled in the financial services market. Siemens counts over 50% of NHS Trusts and some 160 local authorities among its client base, and recently launched a dedicated practice finance service for the rapidly evolving Primary Care sector.

The market share figures are taken from the end-of-year report published by DNL and are based on a combination of publicly available data from the Official Journal of the European Union (OJEU) and proprietary financial data from public sector advisors. DNL uses the data to build an accurate and independent picture of the asset finance market in the UK public sector.

David Martin, General Manager, Public Sector, Siemens Financial Services, commented: “This research confirms that we continue to be the leading provider of asset finance to the public sector. We have achieved this position thanks to a service-led, best value approach and our compelling combination of in-depth market knowledge and financial expertise.

Over the last few years, we have seen a sea-change in attitude towards asset acquisition in the public sector, with ‘alternative financing’ such as leasing now seen as the most cost effective way to acquire a wide range of assets crucial to the deliver of efficient frontline services. Over the past three years Siemens has devoted considerable energy and resources in helping public sector bodies understand the wide range of benefits which leasing and asset finance can deliver and our position as the leading provider is a testament to this approach.”

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