ASSET BASED FINANCE ASSOCIATION QUARTERLY STATISTICS TO MARCH 2015

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1 ASSET BASED FINANCE ASSOCIATION QUARTERLY STATISTICS TO MARCH 21

2 Asset Based Finance Association MARCH 21 CONTENTS Page 1. List of contributors Clients sales Balances at the period end Analysis of sole lender and syndicate deals Analysis of advances and client numbers by size of client turnover Analysis of client numbers by industry sector 2.6. Average number of debtor days outstanding 3. Aggregate results of the members in the Republic of Ireland Trends in business lending 8 Asset Based Finance Association (ABFA) or by others with the specific consent of ABFA.

3 Asset Based Finance Association MARCH CONTRIBUTORS The members listed below contributed data for the period to March 21: A ABN AMRO Commercial Finance AIB Commercial Finance Ltd AIB Group (UK) plc Aldermore Invoice Finance Ashley Commercial Finance H, I, J HH Cashflow Finance Hitachi Capital (UK) plc HSBC Invoice Finance (UK) Ltd Independent Growth Finance JSM Finance Ltd B Bank of Ireland Commercial Finance, Belfast Bank of Ireland Finance, Dublin Bank of London and The Middle East Barclays Trade and Working Capital UK & Ireland Bibby Financial Services Ltd BNP Paribas Commercial Finance Ltd K, L, M, Leumi ABL Ltd Lloyds Bank Commercial Finance Ltd Metro Bank SME Finance C, D Cavendish Investments (Manchester) Ltd Close Brothers Invoice Finance Clydesdale Bank plc Danske Bank Danske Bank A/S P, Q, R Positive Cashflow Finance Ltd Quantum Factors Ltd RBS Invoice Finance Regency Factors Invoice Finance Ltd Regency Factors plc E, F Easy Invoice Finance Ltd Factor 21 plc Five Arrows Business Finance plc S Santander Invoice Finance Secure Trust Bank Commercial Finance Shawbrook Business Credit Siemens Financial Services Limited Skipton Business Finance Ltd G GE Capital Bank Limited Gener8Finance U, V, W Ulster Bank Invoice Finance (NI) Ulster Bank Invoice Finance Ultimate Finance Group plc Wells Fargo Capital Finance Asset Based Finance Association (ABFA) or by others with the specific consent of ABFA. 1

4 Asset Based Finance Association MARCH CLIENTS SALES The statistics below represent the aggregate of all those members contributing data. CLIENTS SALES ( M) (All products) Quarter ended Mar 1 Mar 14 Year to date Change Mar 1 Mar 14 Change Domestic factoring 4,743 4,62 3 4,743 4,62 3 Domestic invoice discounting 61,718 9, ,718 9,24 4 Export factoring Export invoice discounting 3,876 3,79 2 3,876 3,79 2 Import factoring Total clients sales 71,119 68, ,119 68,298 4 Non recourse included in total above 7,931 7, ,931 7,386 7 Credit protection payments to clients bn Total clients' sales Growth by product quarter on same quarter a year ago Q1 11 Q1 12 Q1 13 Q1 14 Q1 1 Non recourse Domestic factoring Domestic invoice discounting Asset Based Finance Association (ABFA) or by others with the specific consent of ABFA. 2

5 Asset Based Finance Association MARCH BALANCES AT THE PERIOD END BALANCES AT PERIOD END ( M) (All products) Balances as at the end of Mar 1 Mar 14 Change Pure invoice finance advances against debt Invoice finance plus advances against debt plus other assets 14, , ABL facilities: Advances against debt 2,76 2, Advances against stock Advances against plant and machinery Advances against property Advances against other assets Total excluding other commitments 18,836 17,74 6 Other commitments Total advances 18,861 17,774 6 Total funding available 27,678 26,146 6 Total facilities agreed 41,41 36,13 12 Debtor outstandings 36,327 34,21 6 Stock 2,492 2, Plant and machinery Property Other trading assets Total security values 39,844 37, NUMBER OF CLIENTS AT PERIOD END (All products) Number of clients as at the end of Mar 1 Mar 14 Change Domestic factoring 17,178 17,862 4 Domestic invoice discounting 19,77 19,173 3 Export and mixed export + domestic,439,18 Import factoring Stock Finance ABL facilities Total number of clients 43,8 43,424 1 Clients lost in quarter 2,173 2,189 1 Clients gained in quarter 2,29 2, Asset Based Finance Association (ABFA) or by others with the specific consent of ABFA. 3

6 Asset Based Finance Association MARCH ANALYSIS OF SOLE LENDER AND SYNDICATE DEALS For the quarter ended March 21 Sole lender Syndicate deals deals Lead Non Lead Total Clients sales volumes ( m) 9,96 11,19 N/A 71,119 Advances at the period end ( m) 1,71 1,73 1,38 18,861 Number of clients at period end 43,69 11 N/A 43, ANALYSIS OF ADVANCES AND CLIENT NUMBERS BY SIZE OF CLIENT TURNOVER Client annual turnover bands m Number of clients at the quarter end Advanced at the quarter end m.. 14, , ,843 2, ,986 1, ,26 1,23 2,987 1, ,3 Over ,888 Total 43,8 18,861 bn Advances at the quarter end Q1 12 Q1 13 Q1 14 Q1 1 Value (Ihs) Change, quarter on same quarter a year ago (rhs) ABL Facilities 21.8 Distribution of advances by product at the end of March 21 Other.1 Invoice Finance 78.1 Asset Based Finance Association (ABFA) or by others with the specific consent of ABFA. 4

7 Asset Based Finance Association MARCH ANALYSISS OF CLIENT NUMBERS BY INDUSTRY SECTOR Industry sector Number of clients at the quarter end Manufacturing Distribution Services Transport Retail Construction Other 12, 793 1, 72 13, 237 2, , 11 1, 848 Total 43,, AVERAGEE NUMBER OF DEBTOR DAYS OUTSTANDING Results based on taking a simple averagee of those members reporting data: Factoring clients Discounting clients s 4 3 Number of clients at the quarter end 1 Transport.9 Distribution of clients by industry sector at the end of March 21 Const. 4.8 Other 4.2 Retail 1.1 Services Q1 12 Q1 13 Number in s (lhs) Q1 144 Q11 1 Change, quarter on same quarter a year ago ( rhs) 1 Distribut'n 24. Manufact No part of this information may be reproduced, photocopied, stored in an electronic retrieval system or transmitted except by members Asset Based Finance Association (ABFA) or by others with the specific consent of ABFA. of the

8 Asset Based Finance Association MARCH AGGREGATE RESULTS OF THE MEMBERS IN THE REPUBLIC OF IRELAND In the following tables figures are quoted in euros ( ). Notes 1 and 2 on page 7 should be read in conjunction with this section. CLIENT S SALES VOLUME ( M) Quarter ended Year to date (All products) Mar 1 Mar 14 Change Mar 1 Mar 14 Change Total clients sales 6,169, ,169,48 12 BALANCES AT PERIOD END ( M) (All products) Balances as at the end of Mar 1 Mar 14 Change Total advances 1,24 1,27 1 Total securities values 2,84 2,889 2 Total funding available 2,4 1,933 6 Total funding agreed 3,161 2, NUMBER OF CLIENTS AT PERIOD END (All products) Number of clients as at the end of Mar 1 Mar 14 Change Total number of clients 1,912 1,924 1 Clients lost in quarter Clients gained in quarter Asset Based Finance Association (ABFA) or by others with the specific consent of ABFA. 6

9 Asset Based Finance Association MARCH 21 ANALYSIS OF ADVANCES AND CLIENT NUMBERS BY SIZE OF CLIENT TURNOVER Client annual turnover bands ( m) Number of clients at the quarter end Advanced at the quarter end m Over Total 1,912 1,24 ANALYSIS OF CLIENT NUMBERS BY INDUSTRY SECTOR Industry sector Number of clients at the quarter end Manufacturing 37 Distribution 776 Services 371 Transport 8 Retail 6 Construction 31 Other 29 Total 1,912 Notes to the Republic of Ireland statistics 1. The group comprises of: AIB Commercial Finance Ltd; Bank of Ireland Finance, Dublin; Bibby Financial Services Ltd; Danske Banke A/S; Lloyds Bank Commercial Finance Ltd; Ulster Bank Invoice Finance 2. Data on the average number of debtor days outstanding for factoring and discounting clients have not been published since not all contributors are currently able to supply this information. Asset Based Finance Association (ABFA) or by others with the specific consent of ABFA. 7

10 Asset Based Finance Association MARCH TRENDS IN BUSINESS LENDING The second estimate of UK GDP growth in Q1 21 suggested that the economic grew by.3 compared with the previous quarter. Poor export figures weighed down on growth in the first quarter. Service sector output continued to grow, up.4 on the previous quarter and output from the production industries increased by.1 over the same period. By contrast, construction output fell by 1.1 in Q1 21. Despite a relatively weak start to 21, the economy is expected to grow by 2.6 this year M4 net lending to PNFCs, seasonally adjusted, 12 months change Source: Bank of England The total amounts outstanding to private nonfinancial corporations (PNFCs) stood at 37.1 billion at the end of March 21, down from billion at the end of March 214. Total gross lending to PNFCs increased by 19.9 in the twelve months to March 21 to almost 2 billion. Over the same period, gross lending to SMEs increased by 26.2 to 6.2 billion, while lending to large sized businesses grew by 17.6 to billion. Total net funds raised by PNFCs in the UK was positive in Q1 21, at 8.3 billion. More than half was accounted for by net loans of 4.3 billion, while commercial paper issuance was 2.4 billion. Net equity issuance was also positive in Q1 21 at 1.8 billion. By contrast, net bond issuance reduced from 6. billion in Q4 214 to.4 billion in Q1 21. Asset finance provided through leasing and hire purchase by members of the Finance & Leasing Association (FLA) grew by 19 in Q1 21 compared with Q1 214 to more than 6.9 billion. In the twelve months to March 21, new business reached 27.1 billion, up 14 compared with the same period in 214. Car finance, commercial vehicle finance and plant and machinery finance each grew by 13 in Q1 21. The strongest rate of growth was reported by the IT equipment finance sector, which reported new business up by 3 compared with the same period in Mar Mar 7 Mar 9 Mar 11 Mar 13 Mar Gross lending to non financial businesses by MFIs, not seasonally adjusted, 12 months change Source: Bank of England Mar 13 Jul 13 Nov 13 Mar 14 Jul 14 Nov 14 Mar 1 SMEs Large businesses Net funds raised by PNFCs Source: Bank of England, loans and total time series seasonally adjusted Q1 11 Q1 12 Q1 13 Q1 14 Q1 1 Loans Bonds Total Commercial paper Equity Asset Based Finance Association (ABFA) or by others with the specific consent of ABFA. 8

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