Vehicle portfolio grows by more than 50 per cent to 36,000 vehicles. Full service leasing cooperation agreement with Commerzbank
Effective from early 2011, Arval Deutschland GmbH will fully take over Commerz Real Autoleasing GmbH. The company is the fleet leasing subsidiary of Commerz Real Mobilienleasing GmbH, which is part of the Commerz Real Group. The takeover is still subject to authorisation by the German Financial Supervisory Authority (BaFin) and the German Cartel Office and is expected to occur in the first quarter of 2011.
Vehicle portfolio grows by over 50 per cent
With its purchase of Commerz Real Autoleasing, the full service leasing provider will be markedly expanding its share of the German market. Its vehicle portfolio will grow by more than 50 per cent to 36,000. The main focus will continue to lie on car fleets with around 20-plus vehicles. The workforce will rise to over 200 employees.
The company's headquarters will remain in Kirchheim, near Munich. The Hamburg site, however, along with its workforce, will be retained so that Arval will be able to significantly improve both its sales network and its local presence. A further important element of the takeover is a cooperation agreement with Commerzbank: this will make Arval Germany the Commerzbank's partner, allowing it to expand its business activities in the field of full service leasing for corporate customers.
With the merger of the two organisations, Arval is once again affirming its commitment to Germany as a business location. The company is focusing on quality growth so that it can continue to serve its customers as a solid and strong partner in the future.
Lionel Wolff, Managing Director of Arval Germany, describes the added value: “Our new customers can profit from our international presence and experience of fleet management. We look forward in future to being a financially strong partner to them.” With his statement, Wolff is highlighting his commitment to his customers and offering positive prospects not only for his company, but also for his business partners.
Arval Deutschland GmbH
The company is based in Kirchheim, near Munich, and is a subsidiary of BNP Paribas SA, one of the world's leading European banking and financial services providers. Arval Deutschland GmbH, with a vehicle portfolio of more than 25,700 vehicles (2009), is one of the biggest manufacturer-neutral suppliers of full service leasing and recorded sales of EUR 340.2 million in 2009. Arval mobility services are offered to business customers with cars and commercial vehicles.
Global presence of the Arval group
Created in 1989, Arval is a major player in full service, multi-brand leasing and corporate fleet management, with 622,000 financed and 690,500 managed vehicles (June 2010). Operating in 39 countries, with 22 subsidiaries and a network of partners in 17 countries, Arval is part of the BNP Paribas Retail Banking “Equipment Solutions” business line. (www.arval.com)
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the six strongest banks in the world* and the largest bank in the eurozone by deposits. With a presence in more than 80 countries and more than 200,000 employees, including 160,000 in Europe, BNP Paribas is a leading European provider of financial services on a worldwide scale. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Retail Banking, the Group has four domestic markets: Belgium, France, Italy and Luxembourg. BNP Paribas is rolling out its integrated model across the Europe-Mediterranean zone and boasts a large network in the United States. BNP Paribas Personal Finance is the leader in consumer lending in Europe. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe and solid and fast-growing businesses in Asia.
* Rated AA by Standard & Poor's i.e. 3rd rating level on a scale of 22.