BNP Paribas becomes the exclusive partner for Stellantis’ captive for financing activities serving all its 14 brands across three strategic markets: Germany, Austria and the UK. These three countries account for approximately 40% of all new vehicle registrations in Europe.
The group – via its subsidiary BNP Paribas Personal Finance – will:
- Increase and diversify its exposure to all Stellantis brands (OPEL, Vauxhall, Fiat, Chrysler, Alfa Romeo, Peugeot, DS, Citroën, Jeep, Abarth, Lancia, Dodge, Ram and Maserati)
- Increase outstandings at closing by appr. €6bn (currently €11 billion) with significant potential for growth.
The transactions should be completed in the first half of 2023, once required authorisations have been obtained from the relevant anti-trust authorities and market regulators.
Commenting on this announcement, Thierry Laborde, BNP Paribas Chief Operating Officer said:
« We are delighted to renew and expand this partnership with Stellantis, which began in 2017. Beyond strengthening BNP Paribas’s footprint in the automotive financing sector in The United-Kingdom, Germany and Austria, countries at the heart of our development strategy, this partnership provides us with a great opportunity to support all Stellantis’ clients in the evolving mobility market, one of the major axes of our GTS 2025 strategic plan ».
Charlotte Dennery, CEO of BNP Paribas Personal Finance, added:
« We are pleased that this agreement will significantly strengthen the historic partnership with Stellantis Group and continue this promising industrial adventure over the long term ».
