The agreement announced on the 19th February 2014 and signed on the 10th July 2014 allows Banque PSA Finance, in association with the largest bank in the Euro zone, to secure access to refinancing, lower its financing costs and improve the competitiveness of its products.
This partnership will come into effect from January 2015 in the form of joint ventures, owned and funded in equal parts by BPF and SCF in 11* European countries, representing 90% of PSA Banking Group’s activities.
A second agreement has been signed on July 24th 2015 between Banque PSA Finance and Banco Santander Brasil for the creation of a joint venture in Brazil.
Rémy Bayle, Banque PSA Finance Chief Executive Officer, underlines: « While leaning against a major banking actor, Banque PSA Finance with this new partnership concluded in a difficult economic context in Brazil, makes safe the refinancing of its operations and thus offers to the brands, the dealers and their customers, financing solutions on the best level of competitiveness on this market. »
- The United-Kingdom
- The Netherlands
- Belgium & Luxembourg
- Malta (as regards the Insurance Cooperation)