The European leasing market for equipment and vehicles grew over 10% year-on-year in the first half of 2017, figures from Leaseurope have shown.
New business across Europe in the period was worth €157.6bn (£138.7bn).
The data, collected from national leasing associations across the continent, shows a particularly strong growth in Russia, where business jumped over 50% to €3.1bn.
Countries like Hungary, Turkey, Greece and Latvia all enjoyed growths of between 15% and 20%. Economies with bigger leasing markets, like Italy and the UK, also saw growth, but at a slower pace of around 10%. France and Belgium experience more modest rises of around 8%.
Germany remained the biggest leasing market on the continent, with a total business worth of €25bn, up 11% from the previous year.
Jurgita Bucyte, senior adviser in statistics and economic affairs at Leaseurope, said: “The double-digit increase in new business volumes in the first half of 2017 clearly indicates that the leasing industry has been able to sustain its growth seen since 2014. Looking at the remainder of the year, leasing professionals remain optimistic expecting positive market results.”