15 February 2018

Extension of FCA Bank partnership between Fiat Chrysler Automobiles and Crédit Agricole

 

FCA Italy S.p.A. ("FCA"), Crédit Agricole S.A. ("CASA") and Crédit Agricole Consumer Finance S.A. ("CACF") have reached an agreement for the extension of their 50/50 Joint Venture in FCA Bank S.p.A. up to 31 December 2022.

 

The parties have agreed to extend the term of their alliance in respect of FCA Bank S.p.A. to ensure the long-term sustainability of FCA Bank S.p.A., the captive finance company that handles FCA's main financing activities in retail auto financing, dealership financing, long-term car rental and fleet management, combined with innovative insurance and mobility solutions, in the main European countries.

 

FCA Bank S.p.A. will continue to benefit from the financial support of the Crédit Agricole Group while continuing to strengthen its position as an active player in the capital markets.

 

Paris/Turin, 15th February 2018            

 

 

FCA Bank S.p.A.

FCA Bank S.p.A. is a bank engaged mainly in car financing, with the objective of meeting any mobility requirements. It is an equally-held joint venture of FCA Italy S.p.A., a company of global car manufacturer Fiat Chrysler Automobiles N.V., and Crédit Agricole Consumer Finance, a company of the Crédit Agricole Group, leader in consumer credit. The company provides financial products to support the sales of prestigious car brands in Italy and in Europe. Loan, lease, rental and mobility financing programmes provided by FCA Bank S.p.A. are specifically conceived for the sale networks, for private customers and corporate fleets. FCA Bank S.p.A. has a presence in 17 European countries and in Morocco, directly or through subsidiaries. As at 30 June 2017, FCA Bank S.p.A. had a credit portfolio of €22.7 billion. 

 

 

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