Leasys, FCA Bank’s leasing unit, has expanded its operations to Belgium.

The company, a joint venture between Fiat Chrysler’s banking arm and France’s Credite Agricole, already operates in Italy, France, Spain, Germany and the UK.

“[Belgium] is mature in the leasing sector but still has significant growth prospects for long term rental, especially for what concerns small and medium sized enterprises and the private customers target,” Leasys said.

It added: “With the expansion of the reference markets, Leasys will be increasingly competitive and able to best meet the needs of its local and international customers: the goal is to become one of the top five European rental players within the next three years.”

The company said in Belgium it would offer its flagship product Be Free, a no-deposit car leasing product that allows to give vehicles back after one year.

Leasys said its fleet currently numbers 200,000 vehicles. It reported volume growth in both its native Italy and foreign markets.

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