SMEs repay over £5 billion in first six months of 2023 to erode pandemic debt pile

Analysis of the Bank of England’s data on SME lending shows that through the first half of 2023 SMEs saw net lending decrease by £5.3 billion. Research by global financial technology firm Ebury highlights the urgency with which businesses are now making debt repayments in the aftermath of the various COVID-19 loan schemes and the rising cost of servicing that debt.

SMEs repay over £5 billion in first six months of 2023 to erode pandemic debt pile

Sep 25, 2023

Analysis of the Bank of England’s data on SME lending shows that through the first half of 2023 SMEs saw net lending decrease by £5.3 billion. Research by global financial technology firm Ebury highlights the urgency with which businesses are now making debt repayments in the aftermath of the various COVID-19 loan schemes and the rising cost of servicing that debt.

UK economy shrinks by 0.5% in July, according to latest GDP figures

Monthly real gross domestic product (GDP) is estimated to have fallen by 0.5% in July 2023. The Office for National Statistics (ONS) said the decline - which was worse than many economists had expected - followed an unrevised 0.5% increase in GDP in June 2023.

UK economy shrinks by 0.5% in July, according to latest GDP figures

Sep 13, 2023

Monthly real gross domestic product (GDP) is estimated to have fallen by 0.5% in July 2023. The Office for National Statistics (ONS) said the decline - which was worse than many economists had expected - followed an unrevised 0.5% increase in GDP in June 2023.

Consumer car finance new business volumes fell by 6% in July 2023

New figures released today by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in July 2023 by 6% compared with the same month in 2022. The corresponding value of new business fell by 5% over the same period. In the seven months to July 2023, new business also decreased 5% by value and 6% by volume compared with the same period in 2022.

Consumer car finance new business volumes fell by 6% in July 2023

Sep 11, 2023

New figures released today by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in July 2023 by 6% compared with the same month in 2022. The corresponding value of new business fell by 5% over the same period. In the seven months to July 2023, new business also decreased 5% by value and 6% by volume compared with the same period in 2022.

Asset finance new business grew by 14% in July 2023

New figures released today by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in July 2023 by 14% compared with the same month in 2022. In the seven months to July 2023, new business was also 14% higher than in the same period in 2022.

Asset finance new business grew by 14% in July 2023

Sep 11, 2023

New figures released today by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in July 2023 by 14% compared with the same month in 2022. In the seven months to July 2023, new business was also 14% higher than in the same period in 2022.

FLA members provided £76 billion of new business in H1 2023

New figures released today by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided £76.3 billion of new business in the first half of 2023, 1% higher than in the same period in 2022.

FLA members provided £76 billion of new business in H1 2023

Aug 11, 2023

New figures released today by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided £76.3 billion of new business in the first half of 2023, 1% higher than in the same period in 2022.

UK economy grows faster than expected after 0.5% rise in GDP in June

Monthly real gross domestic product (GDP) is estimated to have grown by 0.5% in June 2023. Following a fall of 0.1% drop in May and growth of 0.2% in April, UK GDP has bounced back with an increase of 0.5%, according to new figures from the Office of National Statistics (ONS).

UK economy grows faster than expected after 0.5% rise in GDP in June

Aug 11, 2023

Monthly real gross domestic product (GDP) is estimated to have grown by 0.5% in June 2023. Following a fall of 0.1% drop in May and growth of 0.2% in April, UK GDP has bounced back with an increase of 0.5%, according to new figures from the Office of National Statistics (ONS).

Consumer car finance new business volumes fell by 2% in June

New figures released today by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in June 2023 by 2% compared with the same month in 2022. The corresponding value of new business grew by 2% over the same period. In the first half of 2023, new business fell 5% by value and 6% by volume compared with the same period in 2022.

Consumer car finance new business volumes fell by 2% in June

Aug 10, 2023

New figures released today by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in June 2023 by 2% compared with the same month in 2022. The corresponding value of new business grew by 2% over the same period. In the first half of 2023, new business fell 5% by value and 6% by volume compared with the same period in 2022.

Asset finance new business grew by 18% in June

New figures released today by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in June 2023 by 18% compared with the same month in 2022. In the first half of 2023, new business was 15% higher than in the same period in 2022.

Asset finance new business grew by 18% in June

Aug 10, 2023

New figures released today by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in June 2023 by 18% compared with the same month in 2022. In the first half of 2023, new business was 15% higher than in the same period in 2022.

Consumer car finance new business volumes fell by 10% in May 2023

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in May 2023 by 10% compared with the same month in 2022. The corresponding value of new business also fell by 10% over the same period. In the five months to May 2023, new business fell 9% by value and 8% by volume compared with the same period in 2022.

Consumer car finance new business volumes fell by 10% in May 2023

Jul 12, 2023

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in May 2023 by 10% compared with the same month in 2022. The corresponding value of new business also fell by 10% over the same period. In the five months to May 2023, new business fell 9% by value and 8% by volume compared with the same period in 2022.

Asset finance new business grew by 13% in May 2023

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in May 2023 by 13% compared with the same month in 2022. In the five months to May 2023, new business was also 13% higher than in the same period in 2022.

Asset finance new business grew by 13% in May 2023

Jul 12, 2023

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in May 2023 by 13% compared with the same month in 2022. In the five months to May 2023, new business was also 13% higher than in the same period in 2022.

Consumer car finance new business volumes fell by 15% in April 2023

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in April 2023 by 15% compared with the same month in 2022. The corresponding value of new business fell by 16% over the same period. In the first four months of 2023, new business fell 8% by both value and volume compared with the same period in 2022.

Consumer car finance new business volumes fell by 15% in April 2023

Jun 14, 2023

New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in April 2023 by 15% compared with the same month in 2022. The corresponding value of new business fell by 16% over the same period. In the first four months of 2023, new business fell 8% by both value and volume compared with the same period in 2022.