Black Horse, the car finance arm of Lloyds Bank, has reported its new lending grew 18% in 2015, year-on-year.

As a result, total outstanding loans increased 34% to £9.1bn. According to Black Horse, this growth was driven by the continued strength of manufacturer partnerships such as Jaguar Land Rover and their ‘ongoing success’ in the used car finance market.

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Black Horse added 294,000 new customers across its motor, bike and leisure business during 2015.

In 2015, it launched Black Horse SignIt, which the company said provides a quicker way to sign finance agreements online.

Richard Jones, managing director at Black Horse, said: "2015 was a very strong financial performance, driven by new business growth and significant gains in market share. We have successfully met increased demand for new and used car, bike and leisure finance and we strengthened our successful manufacturer partnerships. Our success is built on providing excellent service to customers, which is only achieved through longstanding and collaborative partnerships with our 2,200 strong dealer community across the United Kingdom.

"2015 was a year of unprecedented change for the market with the adoption of the Consumer Credit reforms and we are proud of the role that we have played to help lead and support the industry through these changes.

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"We are constantly looking for new ways to improve our customer experience and respond to the opportunities that digital technology provides and I am confident that we will continue to improve and grow Black Horse again in 2016."

Lex Autolease

Lex AutoLease, the fleet arm of Lloyds Bank, has reported a year-on-year rise of 20,000 vehicles to its total funded fleet, which currently stands at over 317,000 vehicles.

Over the same period, the company’s total customer assets grew 13% to £3.8bn.

The continued growth for Lex Autolease has been supported by investment in new products and initiatives to improve service flexibility for customers. The business has also extended capabilities in the commercial vehicle sector which has been positively received by its large corporate customers.

Tim Porter, managing director of Lex Autolease, said: "Our focus continues to be on delivering market leading customer satisfaction for our all customers. We have set ourselves demanding growth targets over 5 years to 2017 and this year’s results confirm we are well on our way to meet these. Continued support and innovation for SME customers is a key part of this and we will also be investing further in our digital capability in 2016."