BNP Paribas annonces the closing of the framework agreement with Stellantis designating the Bank as exclusive partner of its captive in Germany, Austria and the UK
01.04.2022 | Financial Information, Press release
BNP Paribas becomes the exclusive partner for Stellantis’ captive for financing activities serving all its 14 brands across three strategic markets: Germany, Austria and the UK. These three countries account for approximately 40% of all new vehicle registrations in Europe.
The group - via its subsidiary BNP Paribas Personal Finance – will:
- Increase and diversify its exposure to all Stellantis brands (OPEL, Vauxhall, Fiat, Chrysler, Alfa Romeo, Peugeot, DS, Citroën, Jeep, Abarth, Lancia, Dodge, Ram and Maserati)
- Increase outstandings at closing by appr. €6bn (currently €11 billion) with significant potential for growth.
The transactions should be completed in the first half of 2023, once required authorisations have been obtained from the relevant anti-trust authorities and market regulators.
Commenting on this announcement, Thierry Laborde, BNP Paribas Chief Operating Officer said:
« We are delighted to renew and expand this partnership with Stellantis, which began in 2017. Beyond strengthening BNP Paribas’s footprint in the automotive financing sector in The United-Kingdom, Germany and Austria, countries at the heart of our development strategy, this partnership provides us with a great opportunity to support all Stellantis’ clients in the evolving mobility market, one of the major axes of our GTS 2025 strategic plan ».
Charlotte Dennery, CEO of BNP Paribas Personal Finance, added:
« We are pleased that this agreement will significantly strengthen the historic partnership with Stellantis Group and continue this promising industrial adventure over the long term ».
About BNP Paribas
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group has key positions in its three main fields of activity: Retail Banking for the Group’s retail-banking networks and several specialised businesses including BNP Paribas Personal Finance and Arval ; Investment & Protection Services for savings, investment and protection solutions ; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated retail-banking model across several Mediterranean countries, Turkey, Eastern Europe as well as via a large network in the western part of the United States. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates.
For more information, visit www.stellantis.com.