Renaissance Asset Finance sees double-digit growth

Renaissance Asset Finance (RAF), the asset finance subsidiary of Arbuthnot Latham, has seen double-digit growth during the first half of its financial year, compared to the same period last year.

For the six months to 30 June 2024, Renaissance delivered new lending that equated to a 60% increase on the same period last year. Hire purchase/leasing accounted for just over 80% of the new lending figure, while block discounting – launched in 2021 – makes up the rest.

Overall, the number of facilities has seen an increase of 48% and new client numbers have risen by 63%.

RAF has joined or renewed several partnerships this year – Asset Finance Connect, NACFB, and Acquis Lumia – strengthening its visibility and enhancing its input in the development of the asset finance industry.

Jamie Chaplin, Sales Director at Renaissance Asset Finance, said: “Arbuthnot Banking Group recently released their unaudited results for the six months to 30 June 2024, which shows just how much we have grown in terms of profitability.

“However, together with Arbuthnot’s backing this would not have been possible without each and every person that makes up RAF, from client-facing staff to sales support and everything in between.

“In the months ahead, we look forward to being able to continue supporting our brokers and clients with their aims and objectives.”