World-class consulting capabilities and a rigorous analytical approach constitute the corner stone of every consulting assignment executed by VTA: Terms of Reference for each assignment are vigorously defined and scrupulously followed, data definition and collection is exacting and reporting and presentation of findings is highly professional and transparent. Project Sponsors are often required to assemble large amounts of project and country data which is assimilated before work commences on an assignment - the firm often sends out 'Pre-Project' and 'System Review' Questionnaires to collect data. International Best Practices guide execution of assignments.

VTA works closely with several well-known international financial institutions, including, the International Finance Corporation, the World Bank, and the Inter-American Development Bank, to provide a range of financial institution consulting services, that include:

  • Project Appraisals of Leasing Companies and Financial Institutions
• Business Plan Preparations
• Financial Feasibility Studies
• Tax and Accounting Reviews
• Due Diligence Studies
• Financial System Studies
• Non Banking Financial Institutions Technical
• Advise on Leasing Legislation
• Macro-Economic Studies
• Review of operations of financial institutions
• Pricing Studies
• Role of Non Banking Financial Institutions
• Review of legislative framework in developing countries with a view to fostering development of Financial Institutions
• Technical Assistance for Leasing Projects
• Special purpose pricing and analytical models
• Market surveys, strategic planning, financial modeling, Country Reviews

The diversity of VTA's skill set and range of assignments is illustrated by the following sampling of assignments:

Working closely with IFC, VTA carried out operational, financial and funding reviews of the African Banking Corporation's leasing subsidiaries in Zimbabwe, Tanzania, Botswana and Mozambique. Reviews included, operational and financial performance of satellites, assessing the quality of internal controls and procedures, review of tax and accounting strategies, examination of leasing products and profitability analysis, and assessment of macro-economic systems.
   
Working closely with the Inter-American Investment Corporation, Washington and Banco Intercontinental S.A., in the Dominican Republic, the firm provided assistance to the bank to establish a leasing division. On the basis of the business plan prepared by the firm, the project received a $ 3 Million line of credit from the Inter-American Investment Corporation, Washington, and a $ 5 Million line of credit from Deutsche Investitions - Und Entwicklungsgesellschaft MbH, Cologne (DEG). The first phase involved discussions with IIC, Project Sponsors and technical research into Dominican Republic legislative issues impinging on leasing operations; in the second phase, leasing operations were conceptualized and structured using LeaseEx 2000, the modeling software of Vish Tumu Associates; in the third phase, concepts, ideas and work accomplished in earlier phases was translated into a realistic business plan.
   
VTA conceptualized and proposed a 'Risk Management Vehicle' to assist IFC in addressing leasing risks emanating from a dysfunctional legal system in Yemen, via the market place. In the course of a project appraisal to establish the first leasing company in Argentina in technical collaboration with Credit Lyonnais, France and Argentine Commercial Banks, the firm worked closely with the International Finance Corporation to examine legislative hurdles to the establishment of leasing operations in Argentina. In subsequent phases, IFC initiated dialogue with the Argentine Finance Ministry to encourage amendment of law to foster the development of leasing in Argentina. Firm advised on technical, operational and strategic issues in establishing Argentina's first ever leasing company, in association with three Argentine Banks and a French Technical Partner.
   
The firm worked closely with the International Finance Corporation, Washington, to conceptualize leasing strategy in Chile and in Bolivia.
VTA advised IFC's Capital Markets Department to assess the economic environment for leasing in Ukraine covering the macro-economic environment for leasing, a critical review of direct and indirect taxes and recommendations for changes to law and the accounting framework. A hypothetical leasing project was modeled over a period of 5 years, employing LeaseEx 2000 the project appraisal tool of Vish Tumu Associates.
   
The firm advised IFC's Capital Markets department in assessing the market and operational parameters for leasing in Georgia and Armenia; employing a specially prepared questionnaire in conjunction with LeaseEx 2000, the Project Appraisal and Operations Structuring Model of Vish Tumu Associates and specialist consulting perspectives, the firm charted the regulatory, accounting, financial, operational and market landscape for leasing activities in both countries; the assignment modeled hypothetical leasing projects over a 5 year period to provide real life perspectives of leasing and to identify Project Rates of Return, as a prelude to dialogue with technical partners and local sponsors; the assignment also served to initiate dialogue with State authorities for changes to law and business practices to dismantle perceived hurdles to leasing and for an early entry of leasing companies into the financial system.
   
The firm worked closely with investment officers from the International Finance Corporation, to carry out supervisory audits of IFC's investments in leasing projects in Chile, Peru and Colombia and identified a number of areas where IFC could initiate corrective action.
   
In seeking ways to distribute IBRD funding for energy efficient equipment, Vish Tumu Associates prepared a paper for the World Bank, Washington, on routes for lease financing of Energy Efficient Equipment in IBRD member countries.
   
Vish Tumu Associates advised the International Finance Corporation, Washington, on developing the structure, products and participants for a Cross-Border Leasing Company for the Latin American Region, in association with Leasing Andino, Chile and Orix Corporation, Japan.

VTA worked closely with the Inter-American Investment Corporation, Washington, to provide conceptual, analytical and institutional support to Banco Industrial do Brasil to develop a niche USD leasing product to compete against products offered by captive leasing companies of multi-national companies in Brazil. Towards this end, the firm employed LeaseEx 2000 to provide analytical inputs to the bank to look 8 years into the future and to develop product features. The firm's report included recommendations on organizational structuring, funding structure and systems and procedures and laid the ground for introducing a "lessee oriented" organizational structure in the leasing company.
   
The firm advised IFC's Capital Markets Department in assessing the market for leasing in the Democratic Republic of Yemen, focusing on a number of factors: projected lease volumes, products relevant to Yemen, linkages between leasing companies and the Yemeni financial system in general and commercial banks in particular, type of project sponsors, taxation issues relevant to leasing, and organizational issues in establishing a leasing project in the country. Using LeaseEx 2000, the Project Appraisal and Operations Structuring Model of Vish Tumu Associates, the study modeled a hypothetical leasing project to provide project and financial perspectives to sponsors. Leasing operations were modeled over a 5 year period using preliminary data gathered in the course of the mission and relevant project assumptions such as product mix, debt/equity ratio, lease spreads, and so on.
   
The firm closely interacted with Leasing Bolivar, Bogota, Colombia, in developing a corporate strategy to deal with expected structural changes in the Colombian Financial System.
   
To support the International Finance Corporation's plans to acquire a $ 500,000 equity and $ 3 million debt investment in Banedwards Leasing, Santiago, Chile, the firm worked closely with IFC's investment officer to prepare a detailed project appraisal.
   
The firm worked with the International Finance Corporation to review financial analysis of Leasing Andino, Santiago, Chile, as presented in IFC's Decision Book, with a view to evaluate the completeness and accuracy of the analysis and to suggest modifications. The review focused on Leasing Andino's projections, the underlying assumptions and implications to IFC's line of credit.
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