25 September 2018

FCA Bank SpA establishes branch in Belgium


FCA Bank announces today the opening of its Belgian branch, with its main office in Brussels.


In the past few years FCA Bank has undertaken several strategic initiatives to enhance its competitiveness in the market and to strengthen its long-term ties with customers, adapting the financial products offered to the car manufacturers' strategies, on one side, and pursuing value-creating sustainable growth, on the other. Against this backdrop, recently FCA bank decided to transform certain affiliates of the banking perimeters into branches, with a simpler and more direct approach to governance and internal control, so as to achieve better integration of the foreign subsidiaries in the regulatory framework in which the Banking Group operates.   
Following the establishment of the Irish branch, FCA Bank's Belgian branch is the second step along this evolutionary path. In fact, thanks to a more direct control over operations, FCA Bank S.p.A. will be increasingly able to reach abroad the high standards and performance levels attained in its domestic market. FCA Bank's Belgian branch will manage lending activities in their different forms, following the sound and prudent management principles typical of the banking business, supporting the sales and marketing initiatives of the FCA Group and the other car manufacturing partners. 
These new developments in the Belgian market will entail also the termination, as of 31 December 2018, of the long and rewarding collaboration arrangement with AlphaCredit - the previous provider of banking services on behalf of FCA Bank in Belgium - which contributed actively to the Group's successes in the past few years. 
Moreover, the strategic significance of Belgian market is shown also by the opening, in December 2017, of a branch in Brussels by Leasys, the Group company engaged in long-term car rental and mobility which is currently undergoing an internationalization process.


Turin, 25 September 2018


FCA Bank SpA

FCA Bank is a bank engaging mainly in car financing, with the objective of meeting all mobility requirements, including through its Leasys SpA subsidiary. It is an equally-held joint venture of FCA Italy SpA, a company of global car manufacturer Fiat Chrysler Automobiles, and Crédit Agricole Consumer Finance, a company of the Crédit Agricole Group, leader in consumer credit. The company provides financial products to support the sales of prestigious car brands in Italy and in Europe. Loan, lease, rental and mobility financing programmes provided by FCA Bank SpA are specifically designed for the sale networks, for private customers and corporate fleets. FCA Bank SpA has a presence in 17 European countries and in Morocco, directly or through subsidiaries. At 30 June 2018, FCA Bank had a credit portfolio of approximately €26 billion.  




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