BBVA Compass provides customers with equipment leasing and financing
- Investment in equipment is expected to grow this year, study finds
- New division will help companies acquire everything from aircraft to medical
HOUSTON, Aug. 14, 2013
HOUSTON, Aug. 14, 2013 /PRNewswire/ --BBVA Compass now offers equipment
leasing and financing to companies across the nation that need everything from
new aircraft to rail cars and medical equipment.
The bank is stepping into this market as the ongoing economic recovery in the
U.S. results in growing investment in transportation, industrial and energy
"This new division strategically fills a gap in the bank's product offerings,"
said Rafael Bustillo, BBVA Compass' head of commercial banking. "Acquiring
equipment is often a company's biggest expense and our finance team has the
experience to help these customers make the right financial decisions."
BBVA Compass Equipment Finance is led by Mark Marinik, who has nearly three
decades of experience in the leasing industry. Marinik, the division's
executive vice president and director of commercial equipment finance,
previously served as president of ICX Corp., the leasing affiliate of Charter
One. Marinik will be based in Cleveland, where his team has operated for many
years. There will be production offices in other cities.
Marinik said equipment leasing and financing activity is bound to heat up as
manufacturing demand regains some of the strength lost during the recession.
Investment in equipment and software is expected to grow 4.8 percent this
year, according to a study by the Washington, D.C.-based Equipment Leasing &
"The equipment finance industry is growing due to a lot of pent-up demand in
the last few years," said Marinik. "We're looking to build a world-class
equipment finance operation to meet this demand."
About BBVA Group
BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned
subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global
financial services group founded in 1857. The Group has a solid position in
Spain, is the largest financial institution in Mexico and has leading
franchises in South America and the Sunbelt region of the United States. Its
diversified business is geared toward high-growth markets and it relies on
technology as a key sustainable competitive advantage. Corporate
responsibility is at the core of its business model. BBVA fosters financial
education and inclusion, and supports scientific research and culture. It
operates with the highest integrity, a long-term vision and applies the best
practices. The Group is present in the main sustainability indexes. More
information about the BBVA Group can be found at www.bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 688
branches, including 352 in Texas, 90 in Alabama, 78 in Arizona, 64 in
California, 45 in Florida, 38 in Colorado and 21 in New Mexico. BBVA Compass
ranks among the top 25 largest U.S. commercial banks based on deposit market
share and ranks among the largest banks in Alabama (2nd), Texas (4th) and
Arizona (5th). BBVA Compass has been recognized as one of the leading Small
Business Administration lenders and was recently awarded the 2013 Celent Model
Bank Award for its new core banking platform. Additional information about
BBVA Compass can be found at www.bbvacompass.com.
BBVA Compass is a trade name of Compass Bank, member FDIC.
SOURCE BBVA Compass
Contact: Jena Moreno, Corporate Communications, Tel. 713-831-5867,
Press spacebar to pause and continue. Press esc to stop.