AFE50 2025 unveils Europe’s top 50 auto and equipment finance providers

Asset Finance Connect, in association with Asset Finance Policy and sponsored by Alfa, has released the Asset Finance Europe 50 (AFE50) Report 2025, providing a comprehensive overview of the European business equipment and vehicle leasing market.

Now in its ninth year, the AFE50 is the industry benchmark survey, based on audited and publicly available accounts. For 2024, the combined lease receivables of the top 50 asset finance companies rose to €349 billion, a 2.0% increase from 2023. This growth, though modest compared with the post-pandemic rebound, highlights the industry’s resilience against ongoing economic and geopolitical challenges.

Key findings from the AFE50 2025:

• Top 50 portfolios: €349bn in total lease receivables, with the wider market estimated at €500bn.
• BNP Paribas leads: strengthened its top position, widening its lead over Societe Generale after the transfer of its equipment finance arm to Group BPCE.
• Banks gain ground: the sector grew overall, supported by BNP Paribas, Crédit Agricole and the Societe Generale/LeasePlan consolidation.
• Captives outperform: manufacturers’ finance arms, particularly Traton and BMW/Alphabet, grew faster than the industry average.
• Independents mixed: Grenke and Novuna stood out with above-average growth, while others lagged behind.
• Major transactions reshaping rankings: including Group BPCE’s €14bn acquisition of Societe Generale Equipment Finance.

The industry in context

The European asset finance sector in 2024 continued to consolidate post-pandemic gains. Inflation eased across most EU economies, supply chains stabilised, and energy prices retreated. Yet elevated interest rates, geopolitical tensions, and regulatory pressures remained major challenges.

Sustainability is increasingly shaping strategy. Captives and banks alike are embedding ESG criteria into financing, supporting demand for electric vehicles, renewable energy equipment, and circular economy leasing models. However, complex and inconsistent reporting rules remain a source of frustration for businesses.

Download the report

The AFE50 Report 2025 includes the full rankings, detailed market analysis, and thought leadership from industry experts from BNP Paribas Leasing Solutions, BPCE Equipment Solutions, CA Auto Bank, grenke, and Raiffeisen-Leasing.