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Stellantis Enters Agreements With Its European Banking Partners

Stellantis N.V. (STLA) announced the signing of binding agreements with BNP Paribas Personal Finance, Crédit Agricole Consumer Finance and Santander Consumer Finance. These agreements support the financial services commitment to: create a multi-brand operational leasing company in which Stellantis and Crédit Agricole Consumer Finance each hold a 50% interest, and to reorganize the financing activities through joint ventures set up with BNP Paribas Personal Finance or Santander Consumer Finance in each country to manage financing activities for all Stellantis brands.

Carlos Tavares, Stellantis CEO, said: "Our strategy is to better leverage our financial services arms, both in Europe and North America, with the aim to double our net banking income by 2030. The new platform is setting the scene to achieve this target and boost value creation across our financial services business."

Owned equally by CA Consumer Finance and Stellantis, the new multi-brand leasing joint venture will serve all customers, both companies and individuals, in ten European countries, and aims to develop a fleet of over one million vehicles by the end of 2026. Also, CA Consumer Finance will acquire 100% of the capital of FCA Bank and Leasys Rent.

"The Crédit Agricole Group will create a European leasing leader with Stellantis and will have a 100% innovative car financing platform that will enable it to serve all market players in 18 countries, including white labels, with a comprehensive and operational offer," said Stéphane Priami, Deputy CEO of Crédit Agricole S.A. and CEO of CA Consumer Finance.

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