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Profile: Apple, the local global bank
19 October 2011
The New York City-based bank may be quiet about its aviation transactions, but it has a large portfolio with an experienced team.
Every Monday Apple Bank's banking and investment team,
composed of five members, meet to discuss which export credit
transactions to finance and how to expand their presence in
The New York bank entered aviation in 2009 as a way to
diversify its balance sheet and has gained airline customers
through word of mouth.
Since then, Apple Bank has financed around 35 aircraft in
total. For the last two years, the bank has financed about $500
million per year worth of export credit loans.
"We are never going to have a global network of offices,"
says Jonathan Byron, senior vice president, special finance and
export credit, Apple Bank. "To the extent that the banks in
this sector have a global presence, that is an asset for both
Safer than the average bank
Apple Bank has more than two times the average
capital of other banks and three...
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