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Equipment Finance News IT equipment finance takes pole position in January 2015 Published: 8th March 2015 Share Asset finance new business in the UK grew by 13% in January 2015, compared with the same month in 2014. Total new business was up by the same rate in the 12 months to January 2015. Members of the UK Finance & Leasing Association (FLA) reported a continuing solid growth for most asset sectors in January. The two fastest growing asset sectors were plant and machinery finance which grew by 12% in January to a total of £387 million compared with the same month a year earlier, and IT equipment finance which grew by a massive 49% in the same period to a total of £102 million. Business equipment finance grew by 10% in January to reach a total of £102 million – reaching an annual total of £2.2 billion, a rise of 7% over the whole year. Car finance rose by 7% in the month to £545 million – which brought a solid 14% annual rise to £7.7 billion. Commenting on the figures, Geraldine Kilkelly, head of research and chief economist, said: “The asset finance market has made a good start to 2015, with growth continuing across key asset sectors. The percentage of UK investment in machinery, equipment and purchased software financed by FLA members increased from 26.2% in 2013 to 27.2% in 2014, reaching its highest level since 2011.” The total FLA member asset finance (excluding high value) in the 12 months to January 2015 was £25.6 billion – an increase of 13% over the previous 12 months. Asset Finance Connect Asset Finance Connect brings you news and updates about UK and European auto, equipment and asset finance providers. Sign up to our newsletter Featured Stories NewsPACCAR reports strong Q3 revenues and profits Corporate Member NewsPropel Finance assists family-run business with green transition Corporate Member NewsDeko partners with Shire Leasing Equipment Finance