With 1.1 billion inhabitants, economic growth of 8.6% per year for the past four years and one of the most extensive road networks in the world (3.3 million km), India offers considerable potential for all activities related to the automotive sector. The Operational Leasing market of India today represents a fleet of about 50,000 vehicles for a global fleet of approximately 8 million light vehicles. Given the interest demonstrated by both the private and public sectors, Arval expects rapid development in this market.
The presence of BNP Paribas in this country will enable Arval to become active in the whole of the territory and to quickly take on a rank with respect to the other players, particularly international ones. The opening of this subsidiary will also allow Arval to assist international customers located in India by ensuring a continued and consistent leasing policy in line with their corporate vehicles.
Liam Donnelly, previously Commercial Director for Arval UK, has been entrusted with the General Management of this new structure.
BNP Paribas has been present in India since 1860 and is one of the leading foreign banks in this country. The Bank's main activities are in Corporate and Investment Banking (Energy Commodities Export and Project, Fixed Income, Structured Finance, Corporate Finance) as well as in Private banking. BNP Paribas has also 3 joint ventures: in Asset Management with Sundaram group, in Life Insurance with SBI and in Personal Investment Services with Geojit Financial Services. Two projects of partnerships are also in progress between BNP Paribas Lease Group (Equipment Solutions) and SREI Infrastructure Finances on one hand, and between UCB (Personal Finance) and Sundaram Home Finance Limited on the other hand.
In 18 years, the Company has become an international role model in multibrand Operational Leasing and the management of corporate vehicles. Today Arval is present in 39 countries round the world. In 22 countries, this installation is represented by Arval structures and in 17 countries the Group relies on a partnership network. First Operational Leasing company on the French market, Arval is ranked second in Europe with over 500,000 financed vehicles and 623,000 vehicles managed, at the end of 2006. Arval is part of the “Equipment Solutions” business line within the IRFS (International Retail Banking and Financial Services) Division.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 5 strongest banks in the world according to Standard & Poor's. The group is present in over 85 countries, with 155,000 employees, including 123,000 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank's two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.