Europe’s top 50 lessors reach €349bn in lease receivables in AFE50 2025

The European asset finance industry demonstrated steady resilience through 2024, according to the 2025 Asset Finance Europe 50 (AFE50) report published last week by Asset Finance Connect in association with Asset Finance Policy and sponsored by Alfa.

Now in its ninth edition, the AFE50 remains the definitive benchmark for the European business equipment and vehicle leasing markets, providing an objective overview based on audited and publicly available financial data.

The latest AFE50 findings show that the top 50 European lessors reported combined business equipment and vehicle lease receivables of €349 billion, an increase of 2.0% on 2023. Based on the AFE50’s estimated 70% market share, the total European leasing market now stands at around €500 billion.

Despite the challenges of elevated interest rates and ongoing geopolitical uncertainty, 2024 was a year of consolidation rather than contraction. Inflation continued to ease across most EU economies, supply chains improved, and energy prices stabilised. These conditions helped lessors strengthen client relationships, enhance digital solutions, and embed sustainability within financing structures.

BNP Paribas retained its position as Europe’s largest lessor, while Groupe BPCE made the biggest leap, climbing to third place following its acquisition of Societe Generale Equipment Finance (SGEF). France further cemented its role as Europe’s leasing hub, accounting for 41% of the AFE50 market and home to five of the top ten firms.

The report also highlights strong performances from Germany’s major captives, with BMW, Volkswagen, and Mercedes-Benz all expanding portfolios in 2024. Among independents, Grenke and Novuna achieved above-average growth.

The 2025 AFE50 edition introduces new three- and five-year growth analyses, revealing standout long-term performers including BNP Paribas, Crédit Agricole, and Groupe BPCE.

The findings of the AFE50 2025 paint a picture of a mature and steadily evolving industry. Captive finance companies once again outpaced the broader market, banks strengthened their positions through scale and strategic acquisitions, and independent lessors continued to demonstrate agility and resilience.

As the European business equipment and vehicle leasing market edges closer to the half-trillion-euro threshold, competition, innovation, and sustainability remain the central forces shaping the industry’s future.

For the complete data, detailed rankings, multi-year performance insights, and thought leader articles, readers can access the full AFE50 2025 report and rankings at assetfinanceconnect.com/afe50-2025.