Stellantis streamlines its European financing and leasing services

Arrangement will see Crédit Agricole Consumer Finance acquire 50% stake in FCA Bank Group previously owned by Stellantis.

Stellantis has unified its financing and leasing services in Europe with the new Stellantis Financial Services (formerly Banque PSA Finance) and Leasys (consolidating the activities of Leasys and Free2move Lease) organisations.

Following negotiations that started on 17 December 2021, Stellantis has confirmed the conclusion of its agreements with BNP Paribas Personal Finance, Crédit Agricole Consumer Finance and Santander Consumer Finance.

Banque PSA Finance is renamed Stellantis Financial Services and will have a single financing entity per country covering all of its brands, in partnership with BNP Paribas Personal Finance and Santander Consumer Finance.

Stellantis also announced the creation of a multi-brand operational leasing company, Leasys, which is a 50/50 joint venture with Crédit Agricole Consumer Finance following the consolidation of Leasys and Free2move Lease. The company plans to have a fleet of one million vehicles by 2026.

Following EU approval for ALD‘s acquisition of LeasePlan last month, ALD agreed to sell six subsidiaries in Europe (affecting ALD subsidiaries in Ireland, Portugal and Norway, and LeasePlan subsidiaries in Luxembourg, Finland and the Czech Republic)

ALD sells six subsidiaries to close LeasePlan acquisition

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The Stellantis strategy, as outlined in the Dare Forward 2030 strategic plan, is to better leverage its financial services arms, with the aim to double its net banking income by 2030. This new structure will achieve this target and boost value creation across its entire financial services business.

Philippe de Rovira, chief affiliates officer for Stellantis, said: “This simplification allows for superior agility to serve our customers, better support of the commercialisation across Stellantis brands, and strengthened competitiveness by leveraging various synergies.”

Stellantis also confirmed that Crédit Agricole Consumer Finance has acquired the 50% stake in FCA Bank Group that was previously owned by Stellantis.

The various arrangements and consolidations have been approved by the relevant antitrust and competition authorities.