BNP Paribas announces the final signing of the agreements designating the bank as exclusive partner for Stellantis’ captive in Germany, Austria, and the UK

Πέμπτη, 06 Απριλίου 2023 18:04
BNP Paribas announces the final signing of the agreements designating the bank as exclusive partner for Stellantis’ captive in Germany, Austria, and the UK

Following final agreement by all relevant regulatory and antitrust authorities, the two groups announce their partnership is now operational for all customers and dealers.

The Group - via its subsidiary BNP Paribas Personal Finance – is now the exclusive partner for Stellantis’ captive for financing activities, serving all its brands across three strategic markets: Germany, Austria, and the UK. These account for approximately 40% of all new vehicle registrations in Europe.

At a stroke, BNP Paribas Personal Finance almost doubles its assets in Germany and the UK; its outstandings increase by approximately €6 billion (currently €10 billion), with significant potential for growth, thus consolidating its position as European leader in personal financing.
BNP Paribas, via BNP Paribas Personal Finance, increases and diversifies its exposure to all Stellantis brands to offer high-quality financing experience to customers, dealers across all makes.

For BNP Paribas Personal Finance, this partnership is a major milestone on its strategic objective to have 50% of its outstanding loans related to mobility by 2025.One of the key ambitions shared by all parties in this partnership is to accompany customers in their energy transition, leading the way to a more sustainable mobility.

Thierry Laborde, Chief Operating Officer of BNP Paribas declared: “We are delighted to reach a new step in the collaboration initiated with Stellantis in 2017. We look forward to bringing our diversified expertise in financing and developing mobility across Europe to Stellantis, supporting them in meeting their clients’ needs.”

Charlotte Dennery, CEO of BNP Paribas Personal Finance, added: “This partnership is key for our ambitions, strengthening BNP Paribas Personal Finance's presence across the United Kingdom, Germany and Austria, key countries for our development strategy."

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