Asset Alliance Group has retained its position as a member of the prestigious Asset Finance UK 50 2024 (AF50) – a who’s who of the lending sector.
The AF50, published by Asset Finance Connect and now in its ninth year, is the primary annual survey of business equipment and fleet lessors ranked by lending volume.
As part of the top 50, Asset Alliance Group was among the top five companies ranked by their year-on-year percentage growth rate.
Willie Paterson, Chief Executive at Asset Alliance Group (pictured), says: “The past few years have seen some of the most challenging economic times in recent history, and against this backdrop our position in the AF50 is testament to the talent and dynamism of our team.
“Our comprehensive range of financial products, combined with excellent customer service and an industry leading fleet management and compliance offer, has helped mark us out as a business on the move.”
Covering lending in 2022 and 2023, the AF50 is compiled using audited and publicly available records filed with Companies House by the end of May 2024. The figures are based on transactions reported as leases and loan books of asset finance businesses under accounting rules.
Key findings of AF50 2024 include:
- The industry remains one of the most intensely competitive parts of the UK financial services sector, with success dependent on high quality service, reputation, and customer satisfaction.
- Despite economic challenges, the UK asset finance industry has continued to show resilience, and the total industry book size increased by 7.1% to £44.5bn in 2022/23 compared with £40.9bn in 2021/22.
- The outlook is positive, with only seven of the top 50 firms seeing a fall in their book size while 21 firms reported an increase of 10% or more.
Asset Alliance Group has more than 5,000 trucks, trailers and passenger vehicles on fleet and provides operators in the commercial and passenger transport sectors with access to a complete range of financing options including contract hire, hire purchase, operating lease and rental.
The group also offers general asset finance, helping customers to fund non-wheeled equipment and essential items such as warehouse equipment, forklift trucks and plant machinery.
