CREDIT AGRICOLE SA: Crédit Agricole has strong ambitions as regards to automotive financing and mobility
17 Dezember 2021 - 8:00AM
CREDIT AGRICOLE SA: Crédit Agricole has strong ambitions as regards
to automotive financing and mobility
Montrouge, 17 December 2021
Crédit Agricole has strong ambitions as
regards to automotive financing and mobility:
-
Crédit Agricole and
Stellantis intend to join forces
to create a European
leader in long-term leasing
-
CA Consumer Finance plans
also to launch a
pan-European, multi-brand operator in automotive financing, leasing
and mobility
Crédit Agricole Group and Stellantis contemplate
to create a pan-European player in long-term leasing, owned equally
by CA Consumer Finance and Stellantis1. CA Consumer Finance would
become Stellantis’ exclusive partner in long-term leasing, and the
target of the joint venture would be to manage a fleet of over one
million vehicles by 2026. This project of exclusive partnership
between CA Consumer Finance and Stellantis would enable them to
join at once the top 5 leaders in long-term leasing in Europe
In addition, CA Consumer Finance intends to
establish on a stand-alone basis a pan-European, multi-brand
operator in automotive financing, leasing and mobility. Leveraging
on the expertise provided by FCA Bank and Leasys Rent, the new
wholly owned entity would aim at managing €10 billion of
outstandings by 2026. It would offer white-label services and also
target platforms, car-dealerships and short-term leasing
operators.
The implementation of the intended transactions
involving Stellantis, Crédit Agricole S.A. and its subsidiary CA
Consumer Finance would take place in the first half of 2023,
subject to prior consultation with employee representative bodies
and prior to required approvals from the relevant competition and
regulatory authorities.The impact of this transaction on Crédit
Agricole S.A.’s CET1 ratio would be overall neutral.
The targeted transaction is balanced and would
preserve the value created within the joint venture FCA Bank, while
boosting CA Consumer Finance’s growth in the expanding long-term
leasing market. In the medium term, this project would offer an
additional revenue growth potential, thereby consolidating CA
Consumer Finance’s profitability target(2) without affecting, in
the short term, its results trajectory.
The contemplated transaction would be fully in
line with the Group’s universal banking model in that it reinforces
the products and services that Crédit Agricole Group can offer to
its customers. Following the announcement of CA Leasing &
Factoring’s purchase of Olinn and the creation of CA Mobility by CA
Consumer Finance and CA Leasing & Factoring, Crédit Agricole
continues to adapt to the changing needs of its customers,
particularly with regard to mobility, and accompanies the
transition to green mobility. CRÉDIT AGRICOLE PRESS
CONTACTS
Charlotte de
Chavagnac +33 (0)1 57 72 11 17 charlotte.dechavagnac@credit-agricole-sa.frOlivier
Tassain +33 (0)1 43 23 25 41 olivier.tassain@credit-agricole-sa.fr Pauline
Vasselle +33 (0)1 43 23 07 31 pauline.vasselle@credit-agricole-sa.fr See
all our press releases at: www.credit-agricole.com
1 Through the pooling of Leasys, long-term leasing subsidy of
FCA Bank, leader on its market in Italy, and Free2Move Lease,
long-term leasing activity historically covering the PSA brands.2
15% return on normalised equity (RONE) in 2023, as announced at the
CA Consumer Finance Investors Day in December 2020
- Press release 17 December 2021
Credit Agricole (BIT:1ACA)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Credit Agricole (BIT:1ACA)
Historical Stock Chart
Von Apr 2023 bis Apr 2024