Fleet News

Girobank joins leasing sector with Sovereign buyout

GIROBANK has become the latest financial organisation to move into the car leasing market with its acquisition of Manchester-based Sovereign Finance for an undisclosed sum.

Sovereign Finance was previously a wholly-owned subsidiary of the Bank of Austria, Austria's largest financial institution, and in its four years in the fleet market has built up a fleet of 3,000 vehicles.

Girobank, a subsidiary of the Alliance and Leicester Building Society, is one of the UK's leading cash processing banks and operates across Post Office counters. As well as financing assets such as cars and commercial vehicles Sovereign Finance also funds computer and office equipment for a range of businesses and local authorities.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment


No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee