Menu

News Article

Asset Based Lending

Asset finance up 9% in February

By CreditMan Friday, April 8, 2016

New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 9% in February, compared with the same month last year.

Commercial vehicle finance increased in February by 17% compared with the same month in 2015. Business equipment finance and plant and machinery finance each grew by 12% over the same period.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:

“The asset finance market saw stronger new business growth in February following a relatively quiet start to 2016. The improvement was broad-based with most of the main asset sectors reporting higher levels of new business. These figures suggest that business confidence remains relatively robust despite uncertainty about the global economic outlook and the EU membership referendum.”