New business volumes for UK leasing grew 11% year-on-year in April reaching £1.84bn (2.16bn) for the month, according the latest figures from the Finance & Leasing Association (FLA).
The figure for the three months to 30 April was £5.25bn, down 4% on the same period in 2012, and the 12-month figure was £21.27bn, down 1% on the previous 12 months.
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The April growth was spread across asset classes with all sectors experiencing a year-on-year increase for the month, most significantly in the IT equipment and general business equipment sectors which were up 31% and 52% to £128m and £183m, respectively.
IT equipment saw the most growth in the 12 months to 30 April, up 13% on the previous year to £1.38bn.
Car finance, at £669m, and commercial vehicle finance, at £372m, were the most substantial business lines for April, with the former up 10% from April 2012.
Julian Rose, head of Asset Finance at the FLA, said the growth was reflected in industry confidence with a recent survey of UK leasing executives finding 92% expected business growth over the next 12 months – the most optimistic results since the FLA began conducting the survey in May 2011.
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