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Superior, Colo. – July 1, 2004 – Demonstrating the company’s continued growth, Key Equipment Finance today announced that it has again moved up in annual industry rankings in two distinct categories: new business volume and net assets.
Key Equipment Finance, an affiliate of KeyCorp (NYSE: KEY), is now the third-largest bank-affiliated equipment leasing company in new business volume, up from fourth last year. The company is also the fourth-largest bank affiliated leasing company in net assets, up from fifth last year. The rankings are based on an annual survey by The Monitor magazine, and reflect a recent merger of the Bank of America Leasing and Capital and Fleet Capital.
For the survey, The Monitor contacted approximately 150 leasing companies throughout the United States to compile data on each organization’s 2003 year-end net asset level. Key Equipment Finance revenues increased 18 percent in 2003, and the company expanded staffing levels to support this growth.
Key Equipment Finance has continued to climb the annual industry ranking and last year was named the fastest-growing bank-affiliated leasing company over the past 10 years.
“I attribute the success of Key Equipment Finance to the high standards of customer service and product excellence demonstrated by each of our employees,” said Paul A. Larkins, president and chief executive officer of Key Equipment Finance. “It is always gratifying to see our efforts reflected in The Monitor 100.”
About Key Equipment Finance
Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. They focus on four distinct markets:
- businesses of all sizes in the U.S. and Canada (from small business to large corporate);
- equipment manufacturers, distributors and value-added resellers worldwide;
- federal, provincial, state and local governments as well as other public sector organizations; and
- lease advisory services for manufacturers' captive leasing and finance companies.
Headquartered outside Boulder, Colorado, Key Equipment Finance oversees a $9 billion equipment portfolio with annual originations of approximately $3.9 billion. The company has major management and operations bases in Toronto, Ontario; Albany, New York; London, England; and Sydney, Australia. The company, which operates in 24 countries and employs more than 600 people worldwide, has been in the equipment financing business for more than 30 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at KEFonline.com.
Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $84 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company's businesses deliver their products and services through KeyCenters and offices; a network of nearly 2,200 ATMs; telephone banking centers (1.800.KEY2YOU); and a Web site, Key.com,® that provides account access and financial products 24 hours a day.
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