Stellantis N.V. has announced a new, streamlined structure for financing and leasing services in Europe, simplifying and enhancing its multi-brand capacity with the new Stellantis Financial Services (formerly Banque PSA Finance) and Leasys (consolidating the activities of Leasys and Free2move Lease) organisations.
Following the exclusive negotiations initiated on December 17, 2021, Stellantis has confirmed the entry in force of its agreements with BNP Paribas Personal Finance, Crédit Agricole Consumer Finance and Santander Consumer Finance. Banque PSA Finance is now renamed Stellantis Financial Services and will have a single financing entity per country covering all Stellantis brands, in partnership with BNP Paribas Personal Finance and Santander Consumer Finance.
Stellantis has 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. Its objective is to become the European leasing leader with the target of reaching a fleet of one million vehicles by 2026.
The joint venture previously announced in March 2023 that they have signed a binding agreement for the acquisition of ALD and LeasePlan’s activities respectively in Portugal and Luxembourg, which immediately accelerated the business growth plans.
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.
“Today marks the birth of Stellantis Financial Services, a major player in European automotive financing, and of the new consolidated Leasys,” said Philippe de Rovira, Stellantis Chief Affiliates Officer. “This simplification allows for superior agility to serve our customers, better support of the commercialization across Stellantis brands, and strengthened competitiveness by leveraging various synergies.”
Stellantis has also confirmed that Crédit Agricole Consumer Finance has acquired the 50% stake in FCA Bank Group that was previously owned by Stellantis.
The relevant antitrust authorities and market regulators approved the execution of these various operations.
