KBC Business Capital has been bought by PNC Financial Services Group, America’s sixth largest bank.
Business Money editor, Robert Lefroy, commented: “This brings to an end a long period of uncertainty for the UK based team.
It also means that there are some deep pockets available now, a parent that is comfortable with all asset finance must be a blessing in a new owner too.
Whilst the KBC Capital team had nothing but praise for its former owners the credit crunch brought many challenges with it and it is good news that the UK has another powerful ABL provider now”.
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