Crédit Agricole Consumer Finance announces the creation of Crédit Agricole Auto Bank

· Crédit Agricole Auto Bank is the name of the new entity resulting from the 100% takeover of FCA Bank

· This new name symbolises the Crédit Agricole Group’s anchoring and demonstrates the desire to accelerate its development in all mobility sectors. The new entity will serve Crédit Agricole’s ambition to become a leader in green mobility in Europe.

· The goal of Auto Bank, with the support of Consumer Finance, is to become a pan-European leader in multi-brand automotive financing and mobility, independent of any manufacturer. It aims to reach €10 billion in outstanding loans by 2026.

Following the takeover of 100% of FCA Bank, finalised today, Crédit Agricole Consumer Finance unveils the new name of this entity which becomes Crédit Agricole Auto Bank.

Faced with the profound changes in the automotive sector and the environmental and energy challenges, the creation of {tilde over (B)} Auto Bank is a powerful lever for Crédit Agricole Consumer Finance to support its customers in these transitions, with an innovative and pan-European tool.

Auto Bank’s ambition is to become a leading independent player in multi-brand automotive financing, vehicle leasing and the mobility sector. It aims to have at least €10 billion in assets under management by 2026, with 80% of new “green” vehicles (electric or hybrid). Auto Bank, which is positioning itself as the new “Mobility bank for a better planet”*, intends to lead the energy transition of the automotive industry by allowing access to zero- and low-emission vehicles to as many people as possible.

To achieve this objective, “Auto Bank” will strengthen agreements with existing partners and initiate new ones, notably with the support of Crédit Agricole. In addition, the Auto Bank will operate in all sectors of mobility: from cars to two-wheelers, through leisure, boating, agricultural vehicles, light and heavy commercial vehicles.

This new name, which is fully in line with the overall logic of the Crédit Agricole Group’s brands, represents at the same time 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, and the largest customer base in Europe, aims to become the leader in green mobility in Europe.

Crédit Agricole Consumer Finance welcomes the 1,900 new team members of the Auto Bank and its subsidiary Drivalia, a specialist in leasing and mobility services, who are joining the Consumer Finance group, which now has more than 10,000 employees and covers 19 countries.  

*Mobility Bank for a Better Planet

Crédit Agricole Consumer Finance press office: Claire Garcia – +33 (0)1 87 38 11 81 –
presse@ca-cf.fr

About Crédit Agricole Consumer Finance
Crédit Agricole Consumer Finance, a subsidiary of the Crédit Agricole Group, specialises in retail finance and provides access to all mobility solutions in Europe. It distributes a wide range of financing solutions – depreciable credit, revolving credit, leasing and credit buyback – directly at its partners’ point of sale or e-commerce platforms, with associated services including insurance, split payment solutions and mobility services, 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 the leader in green mobility in Europe and offers a continuum of all mobility solutions in the 19 countries where it operates (leasing, medium and short-term leasing, subscription, car sharing, charging station installation, etc.). It relies on the JV 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 Crédit Agricole Regional Banks and at LCL via Agilauto. Consumer Finance acts every day in the interest of its 16.7 million customers and the company. At December 31, 2022, Consumer Finance managed €103.1 billion in outstanding loans.
For more information: www.ca-consumerfinance.com