NetSol Technologies announced the opening of a new office in Sydney, augmenting its presence in Australia to capture a growing market opportunity in the broad equipment finance sector and enhance service capability in the region.
 
"Australia is a very attractive market for us, with leasing growing at a double-digit pace over the last year," said Najeeb Ghauri, CEO of NetSol. "Our expansion is part of an initiative to capture this growing market and provide customers with a greater level of service, something we refer to as our BestShoring® practices. As a whole, the move is part our strategic growth initiatives, as we expand to serve increased customer requirements, higher demand for our core leasing solution, and sales and marketing activities throughout the Asia Pacific region."
 
According to the Australian Equipment Lessors Association, the value of new equipment financed in Australia in 2012 was AUD $43.8 billion, an increase of 15% from the previous year. According to the report, new business volumes exhibited consistent improvement in 2011/12, with each quarter showing an increase to the corresponding 2010/11 period.
 
"We are encouraged about our prospects in Australia to further introduce our flagship product, the NetSol Financial Suite, as financing volumes continue to improve at a modest pace," added Ghauri.