Renaissance Asset Finance (RAF), the asset finance arm of Arbuthnot Latham, has experienced significant growth during the first half of its financial year, marking a notable improvement compared to the same period last year.
Between January and June 2024, RAF achieved a 60% increase in new lending compared to the first half of 2023. The bulk of this growth came from hire purchase and leasing, which together represented just over 80% of the new lending. The remainder was contributed by block discounting, a service introduced in 2021.
The overall number of financing facilities provided by RAF rose by 48%, while the number of new clients surged by 63%. This growth is supported by RAF’s ongoing or renewed partnerships with industry bodies such as Asset Finance Connect, NACFB, and Acquis Lumia, which have helped to boost the company’s presence and influence within the asset finance sector.
Jamie Chaplin, Sales Director at RAF, highlighted the company’s strong performance in the unaudited results released by the Arbuthnot Banking Group for the six months ending 30 June 2024. Chaplin attributed this success not only to Arbuthnot’s support but also to the dedication of everyone at RAF, from client-facing staff to sales support teams. Looking ahead, Chaplin expressed optimism about continuing to support brokers and clients in achieving their goals.
Arbuthnot Banking Group PLC (LON:ARBB), trading as Arbuthnot Latham, provides private and commercial banking products and services in the United Kingdom. Founded in 1833, Arbuthnot Banking is based in London, United Kingdom.
