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November 2012, London – Commenting on ING’s announcement that it is to exit the UK asset finance market, Ian Isaac, Managing Director of Lombard’s Business & Commercial (B&C) division, states, “While we understand that the reasons behind ING’s decision are connected to a wider global business strategy rather than local product performance, we are sorry to see such a respected player leaving the market at a time when asset finance is becoming an increasingly important funding method for UK businesses.

“At a time when overall aggregate lending is in decline, asset finance has been growing year on year and according to the Finance & Leasing Association (FLA), its members financed 31.4% of UK fixed capital investment in the second quarter of 2012 and in the nine months to September 2012, this market has grown by 6%, to £16.1bn. We see this growth continuing.

“Businesses are becoming much more switched on to the lending options open to them, and aware of...

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