By officially acquiring FCA Bank from Stellantis on 4 April 2023, Crédit Agricole is kicking off a bold development program. Its ambition? To become the leader in green mobility in Europe. In addition, it is entering the operational leasing market through a renowned joint venture…
Crédit Agricole, future leader in green mobility
A new chapter is opening for the European mobility sector. Crédit Agricole Consumer Finance says it has finalized the acquisition of 100% of FCA Bank and Drivalia. Two entities previously owned by the Stellantis group. It adds that this takeover will “create a pan-European leader in multi-brand car financing, independent of any manufacturer, within the Crédit Agricole Group”. At the same time, the French bank is expanding into the long-term leasing (LLD) sector in Europe. It has announced the creation of a joint venture with Stellantis, a new player simply called Leasys…
We are proud of the birth of CA Auto Bank and of the fact that we are integrating 100% of its activities, and those of Drivalia, into the Crédit Agricole Consumer Finance group. This is a unique transaction for us and fully supports our ambition to be the leader in green mobility in Europe.
Stéphane Priami, CEO of Crédit Agricole Consumer Finance and Deputy Director of Crédit Agricole SA.
Through the creation of CA Auto Bank, resulting from the takeover of FCA Bank, and the creation of the operational leasing joint venture with Stellantis, the Crédit Agricole Consumer Finance subsidiary is seeking to become the champion of green mobility in Europe!
Crédit Agricole’s ambitious goal
Now its new subsidiary CA Auto Bank will offer mobility financing solutions in the 19 countries where it is present. Whether for credit, leasing, long-term rental or car-sharing needs. The company has set itself the ambitious goal of reaching 10 billion euros in outstanding loans by 2026. But also to have at least 80% of its fleet composed of new “green” vehicles by 2030. In addition, Crédit Agricole is increasingly present in the world of two-wheelers. Indeed, it operates with partners such as Harley-Davidson, Fantic Motor, Vmoto Soco, Hymer Group, and many others… In addition, it also has light and heavy commercial vehicle partners such as Ford Trucks and BMC Truck. In addition to developing agreements with existing partners, it will be announcing new ones in the near future…
Finally, the bank wants to extend its scope to all mobility sectors over time. CA Auto Bank will accelerate the long-standing process of electric transformation, which has enabled the company to adopt an ESG (environment, social and governance) strategy based on the principle of “creating mobility solutions for a better planet every day”. To this end, the bank will offer a wide range of flexible financial products designed to encourage the adoption of new motorized models.
