The UK’s finance industry leaders have revealed their vision for the future as the market responds to the Coronavirus pandemic.
The exclusive 2020 Asset Finance 50 report provides a unique ‘before and after’ perspective of the market, with detailed analysis of the industry carried out using last year’s financial data, ahead of the pandemic starting, while expert analysis looks at the potential long-term impact of the ongoing crisis.
The annual AF50 is the UK’s most influential survey of business and equipment lessors, which tracks the health of the market and identifies the key trends that are set to have an impact on the sector.
This year’s report, sponsored by Alfa, reveals that the total net investment in leasing for the top 50 firms is £40.5 billion, a 7.1% increase from the previous year’s report.
The top 10 companies account for 57% of the market, while Lombard retains its crown as the largest company.
In addition to profiling the largest companies in the UK asset finance arena, the report includes in-depth analysis of the industry.
This year’s AF50 UK includes:
- Full listing of AF50 companies ranked by net investment in business equipment leasing
- Largest fleet lessors
- Largest captive lessors
- Largest manufacturer lessors
- Breakdown of the market by location of ownership
- AF50 by key performance indicators, including the fastest growing companies
- Payroll analysis
- Loan performance analysis
Industry leaders also provide their outlook on a changing industry in this year’s report.
Ian Isaac, managing director, Lombard, said: “The unprecedented challenge we currently face has seen our purpose in action as a leading asset finance provider; being customer focused and understanding the individual requirements of our customers.”
Andrew Denton, chief executive officer of report sponsor Alfa, added: “It’s fascinating to read the takes of a series of industry leaders on recovery from the challenges presented by Covid-19, and while nobody is claiming it will be easy, there are overtones of bullish optimism. At Alfa, we continue to help our clients understand, adjust, and compete.”
Commentators in this year’s report include:
- Neil Davies, chief executive officer, Close Brothers Asset Finance
- Patrick Jelly, commercial director for asset finance, Aldermore Bank
- Mark Picken, chief executive officer, Shire Leasing
- Mike Randall, chief executive officer, Simply
- Gavin Wraith-Carter, managing director, Hitachi Capital Business Finance
The annual AF50 UK is published by Asset Finance International in association with Asset Finance Policy.
Julian Rose, director of Asset Finance Policy and compiler of the AF50 UK data, said: “Since its launch in 2016, the AF50 UK has established itself as the country’s primary annual survey of business equipment and fleet lessors. We estimate that the AF50 UK includes between 90-95% of the total business leasing market and it provides a vital annual insight into industry performance and development.”
The survey is based on audited and publicly available accounts or other published information to ensure accuracy and compliance with competition law and regulations, using the latest information filed at Companies House.
Edward Peck, chief executive officer of Asset Finance International, added: “This year’s AF50 provides a fascinating insight into an industry undergoing unprecedented change. The data shows the state of play as the industry entered what will arguably by the most challenging period in its history, while the unique insight from industry leaders provides a valuable perspective on the strategies that will help us through this crisis.”
To download a copy of the AF50 UK 2020, complete the form below.