The Leaseurope Index for Q2 2018 has shown stable improvement across the board for European asset finance, with rises on profit, income, and leasing volume.

Leasing volumes grew by 9% on an year-on-year basis, hitting the €29bn mark. Total pre-tax profits for the 23 participating leasing companies increased by 4.6% in the quarter, reaching €1.26bn (£1.1bn).

Operating income grew by 2.9% to €2.65bn, while operating expenses increased by 0.4% to €1.2bn. Return on assets stayed the same as one year ago, at 1.9% as in the second quarter of 2017.

Jochen Jehmlich, chief executive of Societe Generale Equipment Finance, said: “Despite a somewhat shaky start to 2018, the key performance indicators tracked by the Leaseurope Index show that the European leasing industry experienced strong performance in the second quarter.

“The European Commission’s forecast for the near future predicts stable growth for the rest of the year and going into the next year as well, despite some risk of escalating trade tensions. In light of this, and the positive results shown in the Leaseurope Index for Q2 2018, we can expect a robust performance for the industry in the second half of the year.”

The index tracks the key performance indicators of 23 European lessors who submit data quarterly on a voluntary basis. The Q2 2018 index is the 30th edition of the survey.

In July, the largest leasing companies were revealed for the 17th year Leaseurope ranking.