RCI Banque

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RCI Banque SA
RCI Bank and Services
TypeSociété Anonyme
IndustryAutomotive financing, insurance and related services
Founded21 August 1974 (1974-08-21)[1]
Headquarters
Paris
,
France[2]
Area served
Worldwide
Key people
  • João Miguel Leandro
    (CEO)[3]
  • Clotilde Delbos
    ()
Increase €1.327 billion (2019) [4]
Increase €903 million (2019)[4]
Total assetsIncrease €58.080 billion (end 2019)[4]
Total equityIncrease €5.7 billion (end 2019)[4]
Number of employees
3,700 (2020)
ParentRenault
Websitewww.rcibs.com

RCI Banque SA (French pronunciation: ​[ɛʁ se i bɑ̃k]), trading as RCI Bank and Services[5] and formerly known as Renault Crédit International, is a France-based international company that specialises in automotive financing, insurance and related activities for the Renault group brands (Renault, Renault Samsung Motors, Dacia, Lada and Alpine[6]) globally; for the Nissan group brands (Nissan, Infiniti, Datsun) in Europe, Russia, Asia and South America;[2][7][8] for Mitsubishi Motors in the Netherlands. RCI Banque is a wholly owned subsidiary of Renault.

History[]

The company was founded by Renault in 1974[2] as the Société Financière de Renault or Sofiren,[9] being intended as a way of financing sales for its dealerships and to manage the automaker's cash flow in Europe. On 27 June 1980 it was renamed Renault Crédit International (RCI).[9] In 1990, it merged with Diac[10] (Diffusion Industrielle et Automobile par le Crédit) SA, a company formed in 1924 by Louis Renault[11] as a result of the lack of liquid funds after the 1921 crisis[12] and with similar objectives, but focused exclusively on loans for the purchase of vehicles[13] (today Diac operates as a RCI Banque's wholly owned subsidiary).[14] By 1990, it contributed with more than one-third of Renault group's net income.[15] By the end of 1999, after the establishment of the Renault–Nissan Alliance, the firm acquired the five Nissan's financial affiliates in Europe (located in the United Kingdom, the Netherlands, Italy, Germany and Spain) for €294 million and expanded its presence in South and Central America to finance Renault and Nissan sales.[16][17] In November 2001, the company was named RCI Banque.[2] In February 2016, as part of a corporate image revamp, RCI Banque adopted the commercial name RCI Bank and Services.[5] In January 2018, the firm moved its headquarters from Noisy-le-Roi to the 2nd arrondissement of Paris. The Noisy-le-Roi headquarters were kept by the subsidiary Diac.[18] In February 2018, the firm's affiliate in the Netherlands announced it would finance Mitsubishi Motors sales in the country through a partnership with the local Mitsubishi financial affiliate.[19]

Activities[]

RCI Bank and Services offers automobile financing lines (17.8 billion euros of new financing at the end of 2020, 4.6 million service contracts sold at the end of 2020 including insurance products). New financing contracts rose to €17.8 billion in 2020. The volume of services sold came to 4.6 million contracts.[20]

In 2020, the firm recorded 1,520,330 contracts financed, generating new financings of €17.8 billion.[21]

It also offers related services, including car loans (used and brand-new), electric vehicle battery leasing contract (100,000 contract in March, 2017),[22] rentals with purchasing options, leases, long-term rentals for retail customers and services, such as maintenance, extended warranties, roadside assistance, fleet management, and credit cards.[23]

It also finances new vehicles, used vehicles, and spare parts, as well as short-term cash requirements for the Renault–Nissan–Mitsubishi Alliance dealerships. It has subsidiaries in Argentina, Brazil, Colombia, Algeria, Morocco, Ukraine, South Korea, and the European Union and joint-ventures in Russia, Turkey and India.[2]

The firm has developed online vehicle sales. In Brazil, 20% of the Renault KWID models sold in 2018 were booked online using RCI e-payment. Dacia customers in the United Kingdom have been able to finance and pay off the model of their choice entirely online since November 2018 via the Dacia Buy Online website. It is the first time that a fully digitalized customer experience has been proposed in the British market.[6]    

In 2020, it sold 1.8 services per vehicle registered by the Alliance brands in its operating scope.[20]

The firm is one of the largest issuers of auto loan asset-backed securities in Europe. In 2004, it had, together with the PSA Banque, a 10 percent participation, only behind Volkswagen and Fiat banks.[24]

It continued to develop its e-payment offer in 2019. 400,000 transactions were realized by its customers via the RCI e-payment solution, up 27.4% compared to 2018.[25]

Acquisitions[]

RCI Bank and Services is expanding its mobility operations.[26] In January, 2017, it becomes the majority shareholder of fr:Karhoo a platform of integrated reservation which gathers companies of taxis and on-demand transportation .[27][28]

In September, 2017, itacquired Class and Co, the parent company of Yuso (an automated fleet management system for taxi, ride-hailing and delivery services) and Marcel (a platform for reserving ride-hailing services in the Paris metropolitan area).[29][30]

On June 8, 2018, it acquired a 75% majority interest in iCabbi, a dispatch management company for automotive fleets of taxis and PHVs.[31][32]

Innovations[]

RCI Bank and Services has joined “LaBChain”, a European banking-finance-insurance consortium dedicated to blockchain technology launched by the Caisse des Dépôts group.[33][34]

In March, 2018, it entered a partnership with Octo Telematics to supply telematic services and thorough analyses of the data to improve driver’s experience.[35][36]

Savings[]

In February 2012, RCI Banque launched the ZESTO savings accounts, which were opened to a general clientele. This internet-based operation was the first of its type by an automaker's subsidiary in France.[37] The launch was accompanied by a TV commercial from Romain Kunstlinger.[38] The success of this initiative[39] led to other automotive groups operating in the French market, as PSA Peugeot Citroën, to consider launching similar projects.[40] At the end of 2012, RCI Banque announced plans to extend ZESTO to Germany.[39] The German version of ZESTO was launched in 2013, called RCI Bank Direkt. In January 2014, ZESTO-Bank Direkt had over 136,000 customers.[41]

RCI Bank and Services launched its deposit collection business in Spain in November 2020. At end-December 2020, net collected deposits totaled €20.5 billion, or 43% of the company's assets. Deposits from retail customers in France, Germany, Austria, the United Kingdom, Brazil and Spain (savings books and term deposits) reached 20.5 billion euros at the end of December 2020 compared with 17.7 billion € at the end of December 2019 and representing nearly 43% of net assets at the end of December 2020.[21]

UK subsidiary[]

In June 2015, RCI Banque's British subsidiary, RCI Bank UK, based in Rickmansworth,[42] launched a savings account system in the United Kingdom, becoming the first car manufacturer-related financial company to do so.[43]

In March 2019 it obtained a UK banking licence;[44] in February 2017 it announced it had received more than £2.1billion of deposits from more than 60,000 savers in the UK since launching in June 2015.[45]

In 2017, RCI Bank was awarded as the "Best No Notice Account Provider" by the Moneyfacts Group.[46]

Management[]

As of September 2019, the company is managed through an Executive Committee and a Board of Directors. Positions are as follows:[47][48] João Miguel Leandro is Chief Executive Office, and Clotilde Delbos , Chairman of the Board).

Sponsorship[]

RCI Banque's Diac sponsored the Renault Sport-assisted R5s and Clios of the Société Diac team, which competed in some events of the World Rally Championship and the French Rally Championship during the late 1980s and early 1990s.[49]

On 24 March 2010, Diac and Renault F1 signed a sponsorship agreement which lasted from the Australian to the Monaco Grand Prix of that year.[50] In 2017, the firm announced a new deal with the Renault F1 team from the Malaysian Grand Prix onwards.[51]

References[]

  1. ^ "RCI Banque". societes.com. Groupe Adverline. Archived from the original on 6 October 2014. Retrieved 1 October 2014.
  2. ^ Jump up to: a b c d e "Company Description: RCI Banque SA". businessweek.com. BusinessWeek. Retrieved 1 October 2012.
  3. ^ Gibbs, Nick (26 March 2018). "Groupe Renault appoints Joao Miguel Leandro as CEO of RCI Bank". eauto.economictimes.indiatimes.com/. Crain. Retrieved 4 April 2018.
  4. ^ Jump up to: a b c d "RCI Bank and Services - Business Report 2019" (PDF). www.rcibs.com.
  5. ^ Jump up to: a b "New logo, new visual identity, new website". RCI Banque. 15 February 2016. Retrieved 2 March 2016.
  6. ^ Jump up to: a b "RCI BANK AND SERVICES POSTS ITS BEST PERFORMANCE EVER". www.sectorpublishingintelligence.co.uk/.
  7. ^ Bournois, Frank (2007). RH: Les meilleures pratiques du CAC 40/SBF 120 [HR: The best practices from CAC 40/SBF 120] (in French). Editions Eyrolles. p. 689. ISBN 978-2-7081-3630-4.
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  10. ^ "Profile: RCI Banque SA". Moody's Investors Service. Alacrastore.com. Retrieved 3 October 2011.
  11. ^ Pécourt, Nicolas (2010). "Le crédit un moteur de la croissance économique". Un monde sans crédit ?: Réflaxion autour du crédit à la consommation [A world without credit?: Reflections on the consumer credit] (in French). Editions Eyrolles. p. 72. ISBN 978-2-212-54553-1.
  12. ^ Lescure, M. (1995). "Banking in France in the Inter-War Period". In Feinstein, Charles H. (ed.). Banking, Currency, and Finance in Europe Between the Wars. Oxford University Press. p. 325. ISBN 0-19-828803-4.
  13. ^ Loubet, Jean-Louis, ed. (1999). L'Industrie automobile: 1905-1971 [The car industry: 1905-1971]. Archives économiques du Crédit Lyonnais (in French). 4. Librairie Droz. p. 173. ISBN 978-2600003179.
  14. ^ "Directory: DIAC SA". Insideview.com. Archived from the original on 26 January 2013. Retrieved 3 October 2012.
  15. ^ Guermonprez, Damien (2005). "Quel territoire pour les acteurs non bancaires ?" [So what territory for non-bank actors?]. Revue d'économie financière (in French). AEF (78): 245. doi:10.3406/ecofi.2005.3949. ISSN 1969-6582. Retrieved 3 August 2014.
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  19. ^ Genet, Jean Pierre (5 February 2018). "Mitsubishi et RCI (Renault) s'associent aux Pays-Bas" [Mitsubishi and RCI (Renault) partner in the Netherlands]. L'argus.fr (in French). Retrieved 26 March 2018.
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  21. ^ Jump up to: a b "RCI Banque : 2020 ANNUAL RESULTS: RCI BANK AND SERVICES MAINTAINS A ROBUST COMMERCIAL AND FINANCIAL PERFORMANCE IN A CAR MARKET IN STEEP DECLINE". finance.yahoo.com. Retrieved 2021-04-09.
  22. ^ "Another Milestone For Renault: 100,000th Leased Electric Vehicle Battery". cleantechnica.com.
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  28. ^ "Renault s'empare du comparateur de taxis Karhoo". www.usine-digitale.fr.
  29. ^ "RCI BANK AND SERVICES ACQUIRES CLASS & CO, THE PARENT COMPANY OF YUSO ET MARCEL". www.rcibs.com.
  30. ^ "https://www.latribune.fr/entreprises-finance/industrie/automobile/les-constructeurs-automobiles-reprennent-l-initiative-758131.html". www.latribune.fr. External link in |title= (help)
  31. ^ "Renault firm makes strategic investment in Irish start-up iCabbi". www.siliconrepublic.com.
  32. ^ "RCI BANK AND SERVICES ACQUIRES AN 75% MAJORITY INTEREST IN ICABBI". www.rcibs.com/.
  33. ^ "LaBChain : le consortium blockchain de la Caisse des dépôts joue sur l'effet de masse". www.itespresso.fr/.
  34. ^ "RCI BANK AND JOINS " LABCHAIN ", THE INNOVATION LABORATORY OF CAISSE DES DÉPÔTS". www.rcibs.com.
  35. ^ "RCI Bank and Octo partner to provide telematics data for fleets". www.fleetworld.co.uk.
  36. ^ "OCTO TELEMATICS PARTNERS WITH RCI BANK AND SERVICES TO PROVIDE GLOBAL TELEMATICS DATA ANALYSIS FOR VEHICLES". www.rcibs.com.
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  38. ^ Making of the Livret Zesto TV Commercial
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  40. ^ Gillaume, Gilles (7 March 2012). "PSA pourrait lancer à son tour un livret d'épargne" [PSA could launch a savings account]. fr.reuters.com (in French). Reuters. Archived from the original on 14 March 2012. Retrieved 4 October 2012.
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  42. ^ RCI Bank, accessed 13 October 2018
  43. ^ Dunkley, Emma (7 June 2015). "Renault savings bank rolls into UK". ft.com. Financial Times. Retrieved 13 September 2015.
  44. ^ Reynard, Cherry (14 March 2019). "Fresh competition for high street banks as RCI secures licence". yourmoney.com. Retrieved 13 October 2020.
  45. ^ "Savers told to vote with their feet for best deals, says finance expert". www.express.co.uk/.
  46. ^ "And the Moneyfacts Awards 2017 winners are..." Moneyfacts Group. Retrieved 27 March 2018.
  47. ^ "Board of Directors". RCI Banque. Retrieved 16 September 2019.
  48. ^ "Governance". RCI Banque. Retrieved 16 September 2019.
  49. ^ Hope-Frost, Henry; Davenport, John, eds. (2004). "The Drivers". The Complete Book of the World Rally Championship. Motorbooks. p. 140. ISBN 0-7603-1954-5.
  50. ^ "Renault signs deal with DIAC". GPupdate.net. Retrieved 3 October 2011.
  51. ^ "Marketplace Roundup: Renault Formula 1 Partners With RCI Bank & Services". sportsbusinessdaily.com. American City Business Journals. 5 October 2017. Retrieved 29 March 2017.

External links[]

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