BNP Paribas Leasing Solutions is forecast to lend £1.25 billion to UK businesses in 2016.
Thie 15% increase on the £1.1 billion lent in asset finance last year is split across its seven key markets including agriculture, construction, office equipment, materials handling, IT, telecoms and commercial vehicles.
In 2015 the company approved over 42,045 business equipment lease agreements, which amounts to more than 160 transactions per day. This activity was divided between the organisation’s two key divisions, Technology Solutions (TS), which provides dedicated leasing for equipment including office, telecoms, and IT, and Equipment and Logistics Solutions (ELS), which specialises in agricultural equipment, construction, materials handling and commercial vehicles.
BNP Paribas Leasing Solutions has also expanded its UK headcount to 400, increasing its total worldwide staff base to 2,800.
UK country manager Tristan Watkins said: “Over the last year, we have lent to more than 100,000 UK businesses. By providing finance to these companies through our network of partners, we give British businesses access to the assets they really need to flourish.”
In 2015, BNP Paribas launched its customer excellence charter which encourages all service teams to embrace and live five commitments: expertise, simplicity, responsiveness, innovation, and responsibility as a sure way to add value to customers and exceed expectations.
Watkins said: “This year we will be expanding Technology Solutions with offering such as software finance. We look forward to funding more SME businesses in 2016 – they’re truly the lifeblood of the British economy.”