RCI Banque creates the Renault brand finance company in Colombia

On May 27, RCI Banque created a new subsidiary in association with BBVA Colombia: RCI Colombia. This new finance company is owned 51% by RCI Banque and 49% by BBVA Colombia.
RCI Colombia will provide financing and services to Renault brand customers and networks in Colombia.
On July 29, the Colombian authorities issued RCI Colombia with a finance company operating license and business activity was launched on August 24.

In a Colombian car market of over 260,000 sales in 2015, Renault ranks as the number-two brand in terms of sales volumes. To support the development of the Renault brand, attract new customers and seal their loyalty, RCI Banque recently launched its brand finance company in Colombia, RCI Colombia.

Created on May 27, 2016, RCI Colombia is a joint venture between RCI Banque (51%) and BBVA Colombia (49%). RCI Banque is capitalizing on the financing experience acquired by BBVA in the Colombian market through its subsidiary BBVA Colombia. On July 29, 2016, the Colombian authorities issued a finance company operating license enabling the start-up of RCI Colombia business activities, subsequently launched on August 24, 2016.

Commenting, Gianluca De Ficchy, Chief Executive Officer of RCI Banque, said: "RCI Bank and Services is pursuing its international roll-out. After one and a half years of the project, we recently launched our activity as the finance company for Renault in Colombia. To better develop the considerable potential of this market, we have joined forces with BBVA, a major player in the Colombian finance sector, with which we are already a partner in Argentina. Our ambition is to become the leader in automotive financing services in Colombia by bringing all Renault customers exclusive and innovative financing and service solutions."

About RCI Banque SA

Created and wholly owned by groupe Renault, RCI Banque is a French bank specializing in automotive financing and services for groupe Renault customers and dealer networks (Renault, Renault Samsung Motors and Dacia) throughout the world and the Nissan group (Nissan, Infiniti and Datsun) mainly in Europe, Russia and South America. With over 3,000 employees in 36 countries, RCI Bank and Services financed over 1.3 million contracts (new and used vehicles) in 2015 and sold more than 2.9 million services. Average loans outstanding stood at €28.6 billion of funding at end-June 2016 and earnings before tax at €844 million at end-December 2015 and €431 million at end-June 2016. Since 2012 RCI Bank and Services has rolled out a deposits collection business in four countries. At end-June 2016, net deposits collected stood at €11.8 billion, or 34% of the company’s outstandings.

Find out more about RCI Banque at www.rcibs.com