CREDIT AGRICOLE SA: Crédit Agricole Consumer Finance



Press release

Crédit Agricole Consumer Finance cambition onfirms
be a major player in Spain
owning 100% of Capital SoYou

Massy / Madrid, 3rd June 2021Crédit Agricole Consumer Finance will accept more than 100% the is the capital of SoYou, their consumer finance subsidiary created with Bankia in Spain, butpart of the mergeruh between Bankia and Caixabank, as well as gives him a new passiontags to accelerate its growthBankh of spain approved the deal by 1st June
Crédit AgricoSo consumer financestrengthening it aspiration to become a major player iP Spanish market… This deal is in line with the strategy unveiled last December: to strengthen CA Consumer Finance’s leadership in the European consumer finance market.

On 1st In June 2021, Bank of Spain approved the acquisition of 49% of Bankia’s stake in SoYou by CA Consumer Finance. The amount of the deal was not disclosed.

Accelerating growth in Spain

Stéphane Priami, CEO of CA Consumer Finance and Deputy CEO of Crédit Agricole SA in charge of specialized financial services, welcomes “this agreement confirms CA Consumer Finance’s commitment to accelerate its growth in Spain, the fourth largest consumer finance market in continental Europe. Spain is the market in which the Crédit Agricole group is expanding. There he founded several of his businesses, including consumer lending and, more generally, the specialized financial services division. I would like to thank the Bankia team for the constructive and transparent spirit that drives our cooperation.

CA Consumer Finance has identified a new strategy to accelerate SoYou’s growth. Its subsidiary will be equipped with a full range of services to better support CA Consumer Finance’s pan-European partners in the Spanish market.

We are confident in CA Consumer Finance’s ability to continue to grow SoYou.… It was nice to work together over last years”, add CaixaBank resources

As of December 31, 2020, SoYou had 108 employees and managed € 103 million in outstanding loans.

Press Service CA Consumer Finance: +33 (0) 1 87 38 15 87 –

ABOUT Crédit Agricole Consumer Finance:

Crédit Agricole Consumer Finance, a consumer finance subsidiary of Crédit Agricole SA, distributes a wide range of consumer loans and related services across distribution channels in general: direct sales, POS financing (automotive and home appliances) and partnerships. With a presence alongside major brands, specialized distributors and institutional brands in 19 countries where it operates, CA Consumer Finance offers its partners flexible, responsive solutions that perfectly match their needs and customer needs. Customer excellence, empowered customer teams, and community commitment are the pillars that make CA Consumer Finance a group that serves its 15 million customers and communities every day. As of December 31, 2020, CA Consumer Finance had 91 billion euros in outstanding loans.
Learn more:


Source link