2016, a record year for RCI Bank and Services
RCI Bank and Services had an excellent year. The financing arm of the Renault-Nissan Alliance reported 1,564,000 contracts concluded in 2016, an increase of 12.5% year on year. New-vehicle financing contracts went up by 11.3% to 1,288,000 units, and used-vehicle financing contracts numbered 276,000, an 18.6% increase. All of which translates into a turnover of €17.9 billion, an increase of 14.9% over 2015 and a record result for the company.
RCI Bank and Services also reports that the corporate segment of its business is gaining in importance, a trend that is likely to continue, as the company is set to introduce new services this year, specifically targeting the corporate sector.
Some other results:
→ A total of 3.4 million insurance and services contracts were sold, up 20% compared with 2015. 63% were related to vehicle usage.
→ The continued international rollout saw RCI obtain a banking licence in Colombia and expand its credit business to the dealer network in Turkey.
→ The 2016 penetration rate came to 41%, a 1-point increase over 2015.
→ Net banking income rose 8.1% to €1.47 billion, helped by the margin on services, which rose 5.3%. Pre-tax income also rose 8.1% in 2016 relative to 2015, reaching €912 million.
→ The cost of risk amounted to 0.31%, compared with 0.33% at the end of December 2015.
"Buoyed by the Alliance brands' strong sales momentum, RCI Bank and Services beat the targets set in its medium-term plan. The Group has deftly managed to diversify its activities while maintaining a high level of profitability, and is thus contributing to the success of the Renault-Nissan Alliance", said Clotilde Delbos (pictured), Chairman of the Board of Directors of RCI Bank and Services.
"Throughout 2016, RCI Bank and Services seized opportunities to invest in start-ups to develop mobility offerings dedicated to the new uses of our customers", added Gianluca De Ficchy, CEO of RCI Banque.
In June, RCI Bank and Services acquired a minority stake in Bulb Software Ltd, a start-up that has developed an innovative solution for monitoring vehicle usage and related costs. At the end of the year, RCI Bank and Services won a bid to acquire start-up Karhoo, which has developed the first platform for comparing taxi prices.