Societe Generale has been named as the largest European asset finance company in the 2019 Asset Finance Europe 50 (AFE 50).
The 2019 AFE50, sponsored by Alfa, provides insights into the European business equipment and car leasing industry, whose 50 largest members make up a community with lease receivables of nearly €300 billion.
Societe Generale topped the annual tables as it saw its portfolio grow by 15.1%. The finance company, including its automotive leasing arm ALD, accounted for 28% of AFE50 growth in this year’s report.
In an exclusive article produced for the report, Jochen Jehmlich, chief executive officer of Societe Generale Equipment Finance, said: “Relationships, cooperation with partners and client-centricity are in our mindset and corporate values, which we share with our 3,200 colleagues around all our locations to build an inspiring vision for SGEF.
“For our clients and partners, in 2020 we want to be a leading provider of innovative and flexible solutions; a digital and customer-centric organisation committed to delivering an excellent experience across countries, and a great company to work with, driven by simplicity, agility and sustainability.”
The unique European annual ranking survey shows total business equipment and vehicle lease receivables in 2018 were €299 billion, up 5.4% compared to 2017. The previous year showed an increase of around 2.8%.
Companies profiled in the top 50 account for around 85% of the wider industry, suggesting total business equipment and vehicle lease receivables of around £351 billion.
The survey is based on the latest published financial accounts of listed companies, usually with December 2018 year-ends.
The AFE50 survey provides important insights into the European business equipment and car leasing industry and this year’s edition provides expanded coverage of aviation lessors, covering their leases to airlines based in Europe.
Andrew Denton, chief executive officer of Alfa, said: “This represents another comprehensive piece of work from Asset Finance Policy and Asset Finance International.
“This is only the third such report, but many in the industry already see it as its most informative and educational guide.”
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