Record year for RCI Banque with 7.3% more contracts than in 2013
RCI Banque, the financing arm of the Renault-Nissan Alliance, just announced that it recorded its best sales performance ever in 2014, posting over 1,245,000 new and used car financing contracts, up 7.3% compared to 2013. In line with its strategic plan, RCI Banque is expanding internationally to support the growth of the brands of the Renault-Nissan Alliance. Growth in the sales of services is a priority for all the entities of the group.
In 2014, the penetration rate reached 35.2% of deliveries, up 0.6 points compared to 2013. RCI Banque improved its penetration on most of Alliance brands. Thanks to a combined growth in the penetration rate and higher Alliance sales, RCI Banque recorded its best sales performance ever. New financings reached €12.6 billion, up 10.6% from 2013. Services business, a major component of the group’s strategic plan, developed further in 2014. The penetration rate of services reached 73% of financed vehicles, an increase of 10.3 points in the period.
RCI Banque also continued to diversify its sources of funding. The maturity of the group’s debt was extended as a result of a 7-year bond issue for an amount of €500 million. RCI Banque took advantage of the reopening of the variable-rate bond market, issuing €1.1 billion over 3 years through two bonds. Finally, good investor demand on the British market allowed RCI Banque to raise two £250 million loans, with maturities respectively of 3 and 5 years. Outside of Europe, group entities in Argentina, Brazil, Morocco and South Korea also issued bonds on their local markets. On the structured finance market, RCI Banque placed a €644 billion French retail loan asset-backed security and renewed a private securitization backed by car dealers’ loans in Germany.
Following the launch of retail savings accounts in France in 2012 and Germany in 2013, RCI Banque extended this activity in Austria, diversifying further its funding sources. Deposits collected at end-2014 came to €6.5 billion, accounting for 25.7% of the group’s total outstanding.
“The strong start of the first year of the strategic plan reinforces RCI Banque in its ability to reach its objectives. Thanks to the engagement of the whole firm, the group delivered a high level profitability from its operations, hence contributing to the success of the Renault-Nissan Alliance”, declared Dominique Thormann, Chairman of RCI Banque.
“Record sales in 2014 by RCI Banque contributed to the group’s momentum. This was supported by continued expansion internationally and by the deployment of new services. RCI Banque’s funding competitiveness was further reinforced by growth in retail deposits”, declared Gianluca De Ficchy, Chief Executive Officer of RCI Banque.
