Stellantis reaches agreements with its European banking partners

(RTTNews) – Stellantis NV (STLA) has announced the signing of binding agreements with BNP Paribas Personal Finance, Crédit Agricole Consumer Finance and Santander Consumer Finance. These agreements support the commitment of financial services to: create a multi-brand operational leasing company each 50% owned by Stellantis and Crédit Agricole Consumer Finance, and to reorganize financing activities through joint ventures set up with BNP Paribas Personal Finance or Santander Consumer Finance in each country to manage finance activities for all Stellantis brands.

Carlos Tavares, CEO of Stellantis, said: “Our strategy is to better leverage our financial services, both in Europe and North America, with the goal of doubling our net banking income by 2030. The new platform paves the way for achieving this goal. and drive value creation across our financial services business.”

Equally owned by CA Consumer Finance and Stellantis, the new multi-brand leasing joint venture will serve all customers, businesses and individuals, in ten European countries, and aims to develop a fleet of more than one million vehicles. by the end of 2026. , CA Consumer Finance will acquire 100% of the capital of FCA Bank and Leasys Rent.

“The Crédit Agricole group will create a European leader in leasing with Stellantis and will have a 100% innovative automotive financing platform that will enable it to serve all market players in 18 countries, including white label, with a complete offer. and operational,” said Stéphane Priami, Deputy CEO of Crédit Agricole SA and CEO of CA Consumer Finance.

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