German leasing group Deutsche Leasing, part of Savings Banks Finance Group (Sparkassen-Finanzgruppe), recorded European wide business volumes of 7.9bn, according to its financial report.
Deutsche Leasing ended its fiscal year on September 30 with new business growth of around 5% to 7.9bn, "despite weakening economic development".
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The majority of this growth was domestic as new business in Germany amounted to slightly more than 5bn.
Adjusted for the effect of the acquisition of the leasing fleet of Hannover Leasing Automotive (HLA) in the previous financial year, Deutsche Leasing said this corresponded to an increase of nearly 9% on the previous year.
Europe wide, the 1.8bn growth from controlled foreign subsidiaries accounted for a 4% growth on the same figure from last year.
Deutsche Leasing said there were around 1.1bn of new business from the subsidiary DAL German Capital Leases covering the real estate leasing and solutions for the energy and transport segments within the German leasing group.
"Against the backdrop of the economic developments and the whole industry’s results, the German leasing market can look back on a very successful financial year 2013/14," said Kai Ostermann , chief executive officer of Deutsche Leasing.
