Profile: Apple, the local global bank

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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 aviation.

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 of us."

Safer than the average bankApple Bank has more than two times the average capital of other banks and three times the...

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