Finnish leasing companies are "upbeat" about prospective growth in the near future, according to White Clarke Group’s latest country report.

The report says leasing members of the Federation of Finnish Financial Services have grown loan portfolios by 5% over the last 12 months, leading respondents to expect modest near-term growth.

This is in spite of tough market conditions which have reduced demand for capital, and therefore for asset finance, as companies rein in spending, especially for large ticket assets.

The report also says that the fleet sizes have suffered, due to companies restructurings and cost cutting programmes, but at the same time fleet management outsourcing to leasing companies and leasing of fleet vehicles has increased as companies look to decrease costs and "release capital tied up in cars".

Vehicle leasing is also expected to benefit from the introduction of ‘super-trucks’ to the country as maximum truck weight restrictions have recently been lifted from 60 tonnes to 76 tonnes.

The report highlights green assets, IT and technology equipment, and medical equipment to the public sector such as potential growth areas, while large ticket leasing "awaits an economic upturn."

White Clarke Group predicts asset finance in Finland is likely to see modest medium-term growth, starting from a low base, with plenty of opportunities for leasing companies to supporting "necessary" future investment.