BANQUE PSA FINANCE accelerates its transformation

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October marked a key milestone in the process of the transformation of BPF, with the successful launch of the latest Joint Venture in Poland, the last step of the implementation of our strategic partnership concluded with SANTANDER Group which concerns 12 countries in Europe and Brazil. BPF has concluded the implementation of its partnership policy, developed wherever possible. This policy of association with strong actors in a region allows BPF to ensure its competitiveness and to stay focused on its core business: supporting the automotive sales of Peugeot, Citroën and DS bands and their dealer network, marketing, customer relationships and risk management.

Since the first launches in early 2015, the Joint Ventures concerned have delivered significant progress in commercial performance , with for example record penetration rates in the UK and Spain.

Banque PSA Finance has to push forwards simultaneously other key challenges, linked to the PSA Group Push to Pass Plan, all addressing a unique priority, that of the customer and their expectations throughout the life cycle of our common relationship. Particularly important among these areas, are mobility services offered to customers, the digitalization of our processes and an increasing performance on B2B, Used Vehicles, and Insurance markets.

BPF has a crucial role in supporting the second pillar of the Push to Pass plan that should make the Group a major provider of mobility solutions for its customers. BPF’s financing products, insurance, and services make it a fundamental part of this strategy, responding to the new expectations and behaviors of customers.

To meet the challenge of digitization of sales and after sales, BPF will provide a full digital path to all its customers.

These necessary changes should not however reduce the importance of our traditional activities. Whilst our B2C new vehicle financing activity continues to grow with 50% penetration on this channel, our B2B and Used Car activity must improve. The launch of the FREE2MOVE LEASE entity, aiming to enlarge the Group’s B2B offer, to which BPF is actively contributing, and the creation of an entity dedicated to Used Cars, will help to ensure BPF’s development in both of these major markets.

Banque PSA Finance, in line with its mission of accelerating sales of Peugeot, Citroën and DS and of being a provider of mobility services, is resolutely on track to support its development and the “Push to Pass” growth plan of the PSA Group.

Chief Executive Officer