Investec Asset Finance has provided £2bn (2.5bn) of total financing for equipment to UK businesses since its establishment eight years ago, according to a statement from the firm.
The bank said the £2bn figure was aided by a £264m securitisation deal completed at the end of 2013, where it sold bonds backed by £264m worth of SME equipment leases to a range of leading institutional investors.
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The securitisation deal included almost 36,000 finance leases and hire purchase contracts providing asset finance to UK SMEs, said Investec. The deal was oversubscribed with investor orders of nearly twice the available bonds sold.
Two weeks ago the Bank of England placed Investec Bank plc as the second largest net lender to SMEs in Q2 among banks using the government’s Funding for Lending scheme. Investec Bank provided net funding of £136m to SMEs last quarter.
Mike Francis, head of asset finance at Investec, said; "The £2bn in funding IAF has provided to over 100,000 UK businesses is testament to the importance of asset finance to the continuing success of UK businesses, big and small, and to the strong relationships we have with a network of leading brokers across the country.
"At Investec Asset Finance we will continue to strengthen and enhance our offering to provide both brokers and ultimately businesses with the best service possible."
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