RCI Banque

2019: ANOTHER RECORD YEAR FOR RCI BANK AND SERVICES DESPITE A DOWNTURN IN THE AUTOMOTIVE MARKET

   Monday, February 17, 2020

2019: ANOTHER RECORD YEAR FOR RCI BANK AND SERVICES
 DESPITE A DOWNTURN IN THE AUTOMOTIVE MARKET

Despite a downturn of the automotive sector, RCI Bank and Services stabilized its financing contract volumes, achieved a record penetration rate¹ and continued to develop its services business. Thanks to this commercial performance, RCI Bank and Services reached a record level of financial performance in 2019.

• 1,798,432 new financing contracts, stable compared to 2018, for a total of €21.4 billion in new financings, up 2.3%
• Record penetration rate of 44.2% of registrations, compared to 42.9% in 2018
• 368,409 new financing contracts for used vehicles, up 3.7% compared to 2018
• 5,092,196 service contracts sold in 2019, up 5.2% compared to 2018, with 1.5 services sold for each vehicle registered
• Average performing assets (APA)² of €47.4 billion, up 6.8% compared to 2018
• Net banking income of €2.10 billion, up 8.6% compared to 2018
• Operating costs / APA ratio of 1.26%, down slightly by 1 basis point compared to 2018
• Cost of risk³ at 0.37% of APA, compared to 0.33% in 2018
• Group pre-tax income of €1,327 million, up 9.2% compared to 2018

“In an automotive market that decreased, RCI Bank and Services set a new record in sales and financial performance in 2019, demonstrating its robustness and ability to adapt. With a pre-tax income of      €1,327 million, RCI Bank and Services is confirming its strong contribution to the results of Groupe Renault,” said Clotilde Delbos, Acting CEO of Renault SA, CFO of Groupe Renault and Chairman of the Board of Directors of RCI Bank and Services.

“Thanks to a good integration in the policies of the Alliance brands, RCI Bank and Services achieved a record penetration rate of 44.2%. With sales of nearly 5.1 million services and over 368,000 new financing contracts for used vehicles, RCI Bank and Services is confirming the successful diversification of its business activities. In parallel, RCI Bank and Services strengthened its solvency ratio through the issue of a subordinated Tier 2 bond of €850 million,” said João Leandro, Chief Executive Officer of RCI Bank and Services.