Following the early 2015 announcement of partnership activities in France, Great-Britain, Portugal, Spain and Switzerland , the Italian joint venture has obtained approval from local and European regulatory authorities to start operations in early January 2016.
The joint venture will provide wholesale financing to Peugeot, Citroën and DS dealers in Italy, as well as retail financing to the dealers' customers.
Extract from press release, January the 4th : JB de Chatillon, PSA Chief Financial Officer and BPF Chairman, said : « The partnership is being deployed according to schedule and has already proved to be highly beneficial for the Group. With the start of operations in this new country, Banque PSA Finance will be able to benefit in Italy from more favourable refinancing conditions, improve the Group's margins, and offer more competitive rates to Peugeot, Citroën and DS customers. »