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Arval opens a subsidiary in Brazil

Arval, a BNP Paribas company specialising in the operational leasing of multi-brand corporate vehicles, has just established a subsidiary in Brazil, based in Sao Paulo.

The Brazilian market is spread over a land area similar to that of Europe and has a population of 180 million with over 20 million vehicles. There are real opportunities in the market for operational leasing company. Arval's 5-year goal is to be among the top 3 vehicle leasing companies in Brazil.

In addition to generating growth in this region of the world, the launch of this subsidiary will also enable Arval to better serve its international customers who have a presence in Brazil, ensuring that the policy of providing a consistent company vehicle leasing service will be maintained.

Roberto da Fonseca, 45, will be managing director of the new subsidiary. Roberto spent ten years working for General Electric Fleet Services Portugal (formerly Avis Fleet Services), where he was successively Sales Director, Deputy Managing Director and Managing Director. He will be assisted by Nuno Silva, formerly Operations Director for Arval Portugal, who will hold the post of Operations Director, Arval Brazil.

About Arval
Arval is a BNP Paribas company one of the European leaders in the operational leasing of multi-brand corporate vehicle and fleet management market. With a mission to design and implement long-term leasing solutions both on behalf of small/medium-sized entities and large groups, Arval has 3,500 employees in 18 countries and enjoys a presence in five continents via subsidiaries and partners. At 31 December 2004, Arval managed a total of almost 602,000 vehicles.

About BNP Paribas in Brazil
BNP Paribas is active in Brazil in the Corporate and Investment Banking, Asset Management, Private Banking and Consumer Credit businesses.