- 3 min
Crédit Agricole Consumer Finance announces the birth of Crédit Agricole Auto Bank
• This new name symbolizes the anchoring of the Crédit Agricole group and demonstrates the desire to accelerate its development in all sectors of mobility. The new entity will serve Crédit Agricole's ambition to become a European leader in green mobility.
• The goal of the new Bank, with the support of CA Consumer Finance, is to become an independent and multi-brand pan-European leader in the financing and leasing of vehicles and in the mobility sector. It aims to achieve €10 billion in oustandings by 2026.
Following the 100% takeover of FCA Bank, finalized today, Crédit Agricole Consumer Finance unveils the new name of this entity which becomes Crédit Agricole Auto Bank.
Faced with profound changes in the automotive sector and environmental and energy challenges, the creation of Crédit Agricole Auto Bank is a powerful lever for Crédit Agricole Consumer Finance to support its clients in these transitions, with an innovative and pan-European tool.
The Bank's ambition is to become a leading independent, multi-brand player in vehicle financing and leasing and in the mobility sector, with a target of at least €10 billion in outstandings by 2026 with 80% of the portfolio of new vehicles being “green” (either full electric or hybrid). CA Auto Bank, which positions itself as the new “mobility bank for a better planet,” intends to lead the industry's energy transition, making access to zero- and low-emission vehicles increasingly democratic and affordable for all.
To achieve this goal, CA Auto Bank will strengthen agreements with existing partners and initiate new ones, in particular with the support of Crédit Agricole. Moreover, the Bank will operate in all sectors of mobility: from automotive to two-wheelers, to leisure, to marine, to agriculture, to light and heavy commercial vehicles.
This new name, which is fully in line with the overall logic of the Crédit Agricole Group's brands, also represents a very strong signal of its desire to accelerate its development in mobility. The Crédit Agricole group, the 10th largest bank in the world, with a model combining social utility and universality, with the largest customer base in Europe, aims to become the European leader in green mobility.
Crédit Agricole Consumer Finance welcomes its 1,900 new team members from CA Auto Bank and its subsidiary Drivalia, specializing in rental and mobility, who are joining the CA Consumer Finance group, which has now more than 10,000 employees and covers 19 countries.
Crédit Agricole Consumer Finance Press contact : Claire Garcia - +33 (0)1 87 38 11 81 -
About Crédit Agricole Consumer Finance
Crédit Agricole Consumer Finance, a subsidiary of the Crédit Agricole Group, specializes in financing for individuals and provides access to all mobility solutions in Europe. It distributes directly, at the point of sale or on the e-commerce platforms of its partners, a wide range of financing solutions - depreciable credit, revolving credit, leasing and repurchase of credit - with associated services including insurance, fractional payment and services dedicated to mobility, with the aim of meeting the challenges of energy transition in mobility, housing and consumption. Its financing solutions and services are offered in France via Sofinco, in Italy via Agos, in Germany via Creditplus, in Portugal via Credibom, in Spain via Sofinco Espana, in Morocco via Wafasalaf, and in China via GAC-Sofinco (car financing only). Crédit Agricole Consumer Finance aims to be a European leader in green mobility and offers a continuum of all mobility solutions in the 19 countries where it operates (leasing, medium and short-term rental, subscription, car-sharing, installation of charging stations…). It relies on the joint venture with Stellantis, the 100% integration of FCA Bank and Drivalia and the development of automotive financing in its historical entities in Europe and in the Regional Banks of Crédit Agricole and at LCL via Agilauto. CA Consumer Finance acts every day in the interest of its 16.7 million customers and of society. As of December 31, 2022, CA Consumer Finance managed €103.1 billion in outstanding loans.
To know more: www.ca-consumerfinance.com