Crédit Agricole Consumer Finance and the Verbaere Group announce the creation of a captive via Crédit Agricole Auto Bank to support the development of the Verbaere Group and its network of DEX franchisees in France and Belgium
Consumer Finance and the automotive distribution group Verbaere, owner of Dex France and Dex Belgium, have signed the creation of a captive company called Drive Financial Services. The financial captive will support DEX’s ambition to reach 27,000 vehicles sold in 2028 in Belgium, France and in the Group’s concessions led by Jean-Charles Verbaere.
As part of the announced merger of – Auto Bank France and Sofinco Auto Moto Loisirs, a partner of the Verbaere Group for nearly 20 years, the automotive distribution group is taking advantage of this synergy in France and is partnering with – Auto Bank.
The two partners have signed an agreement to create a captive that will operate under the name Drive Financial Services. The birth of this structure comes at a key moment for the development in Belgium and France of the DEX company, acquired in 2022 by the Verbaere Group.
DEX, which relies on a network of 19 franchisees in Belgium to sell or rent used vehicles of all brands it refurbishes, aims to duplicate this model in France. The Verbaere Group subsidiary already has two commissionaire agents in the North of France, in Douai and Valenciennes, and plans to bring the Dex franchise to 14,000 units sold in 2028 in France.
This growth plan should generate a forecast of 1,600 vehicles financed by 2024 and 6,000 by 2027-2028.Through the captive, all DEX franchisees will be able to offer their customers all the financial solutions developed by Auto Bank – classic credit, LOA or LLD – and also the Crédit Agricole Mobility Services catalogue which will be gradually enriched: delivery, extension and maintenance guarantee, etc.
Choosing Auto Bank was a no-brainer for us. The creation of this new European structure corresponded in every way to our needs. The opportunity to have a unique brand in several countries is a real plus for our customers and our employees. This structuring project for our group and its subsidiaries gives rise to a real differentiating commercial offer for our customers through the very wide range of services that Drive Financial Services will offer.
The merger of – Auto Bank and Sofinco Auto Moto Loisirs from 1 January 2024 allows us to offer the best of the 2 worlds to our customers and partners, namely pan-European coverage of their needs and expert solutions thanks to – Auto Bank, while ensuring proximity synonymous with quality of service, a fine understanding of local issues and stronger adaptation thanks to Sofinco Auto Moto Loisirs. It is this whole universe that we are now putting at the service of the Verbaere Group, partner for nearly 20 years of Sofinco Auto Moto Loisirs, to support its growth plan in France and Belgium.The captive Drive Financial Services, created directly with – Auto Bank, will operate at all points of sale.
Contact Presse Crédit Agricole Consumer FinanceClaire GARCIA – Head of Press Relations presse@ca-cf.fr – Mobile : +33 6 80 41 17 77