Total asset finance new business (primarily leasing and hire purchase) grew in January 2022 by 11% compared with the same month in 2021, according to the Finance & Leasing Association (FLA). In the 12 months to January 2022, new business grew by 16% compared with the same period in 2021.
The strong performance of the asset finance market in January in part reflects the restrictions in place during the third UK lockdown last year.
Nevertheless, new business reported this January has recovered to more normal levels and in line with that reported for January in the five years prior to the pandemic.
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