Lex AutoLease, the fleet arm of Lloyds Bank, has reported a year-on-year rise of 20,000 vehicles to its total funded fleet, which currently stands at over 317,000 vehicles.

Over the same period, the company’s total customer assets grew 13% to £3.8bn.

Lex Autolease told Leasing Life it witnessed a 22% year-on-year growth in the number of vehicles funded for SME customers in 2015.

According to the company, the continued growth in its total fleet size has been supported by investment in new products and initiatives to improve service flexibility for customers.

"The business has also extended capabilities in the commercial vehicle sector which has been positively received by its large corporate customers," the company wrote.

Tim Porter, managing director of Lex Autolease, said: "Our focus continues to be on delivering market leading customer satisfaction for our all customers. We have set ourselves demanding growth targets over 5 years to 2017 and this year’s results confirm we are well on our way to meet these. Continued support and innovation for SME customers is a key part of this and we will also be investing further in our digital capability in 2016."