FCA Bank

FCA Bank S.p.A.
Public Limited Company
Industry Banking
Founded April 25th 1925
Founders FIAT
Headquarters Corso G.Agnelli, 200 Torino, Italy.
Key people

Giacomo Carelli (CEO & General Manager) Philippe Dumont (Chairman of the BoD, CEO Crédit Agricole Consumer Finance)

Alfredo Altavilla (Member of the Board, COO FCA EMEA region)
Products Financial services
Number of employees
 2.000 (2016)
Website www.fcabankgroup.com

FCA Bank, joint venture between Fiat Chrysler Automobiles Italy S.p.A. and Crédit Agricole Consumer Finance S.A is a bank dedicated to motorists, which mainly operates in the automotive financing sector and cooperates with prestigious automotive brands (Alfa Romeo, Chrysler, Fiat, Fiat Professional, Jeep, Abarth, Maserati, Jaguar e Land Rover) as well as motorhome and caravan manufacturers.

History[1]

1925 – 1938

On April 25, 1925, SAVA (acronym of Società Anonima Vendita Automobili) was established in Turin, Italy when the "509" model was put on the market. The "509" was the first FIAT model sold on credit. The finance house however also offered financing for the purchases of cars produced by other brands. 1927: S.A.V.A. starts the savings collection with interest-bearing bonds. In the same year, in order to raise the awareness of the newly established company and extend to clients the opportunity of owning a car, two Italian artists of the time Codognato and Romano, conceived S.A.V.A.’s first advertisement. On March 15, 1930, the board of directors of SAVA approved a share capital increase of 4,000,000 Lire and afterwards, on April 11 of that same year, FIAT purchased the entire shareholding. As sole shareholder, it decided that the disbursement of loans should be restricted to FIAT products only, starting from January 1, 1931. In 1938, in order to dispose of the big number of used cars, SAVA started to finance, through hire purchase solutions specific for the second-hand cars.

2003 – 2006

In 2003 SAVA was placed under Fidis Retail Italia, 51% of which was sold to Banca Intesa, Sanpaolo IMI, Capitalia andUnicredit, while 49% remained with Fiat Auto. December 2006: Fiat Auto S.p.A. and Crédit Agricole S.A. create a joint venture with the aim of implementing FGA’s financial activities across Europe. December 28, 2006 (closing date):

2007 – 2008

On March 1, 2007, Fiat Group Automobiles S.p.A. (new business name of Fiat Auto S.p.A.) reunifies in Fidis Retail Italia S.p.A. all its European holdings in the sales networks and rental financing divisions. On April 5, 2007, following the change in business name from Fiat Auto to Fiat Group Automobiles S.p.A., Fiat Auto Financial Services S.p.A. becomes Fiat Group Automobiles Financial Services S.p.A. July 2008: Fiat Group Automobiles Financial Services S.p.A. signs an important collaboration agreement with Jaguar Land Rover in the European car financing area.

2009-2013

On January 1, 2009, Fiat Group Automobiles Financial Services changes its name to FGA Capital FGA Capital replaces Daimler Financial Services in the financial services management for all Chrysler brands (Chrysler, Jeep and Dodge). September 2013: FGA Capital signs a collaboration agreement with Maserati. Maserati Financial Services is born. October 2013: the partnership between FGA Capital, Jaguar Land Rover is renewed for four years, starting from January 1, 2014, with the option of extending the provision of finance services to support Jaguar Land Rover until the end of 2021. November 2013: the joint venture between Fiat Group Automobiles, Crédit Agricole e Crédit Agricole Consumer Finance is renewed up to December 31, 2021.

2015-2016

FCA Bank SpA was born on January 16, 2015; this new company is equally made by FCA Italy S.p.A. and Crèdit Agricole Consumer Finance. After obtaining the banking license in Italy, FCA Bank becomes the leader of an international banking group present in 17 European countries, adding also Morocco. From July 2015 FCA Bank, along with the Erwin Hymer Group, announce the creation of Erwin Hymer Group Finance.

A very important year in the development of FCA Bank is 2016: on July 19, Moody's ranks FCA Bank A3,[2] the highest level among the Italian banking system, attesting its financial health. At a later time, in August, FCA Bank signs a Joint Venture with Ferrari Financial Services AG, the company that offers financial solutions for private and business clients.[3] During October, FCA Bank expands further its offer, launching Conto Deposito, the company's first online savings account.[4]

Geographical area[5]

FCA Bank has a widespread presence in the EMEA region, specifically in the listed countries:

Italy

EMEA

Structure

Shareholding

FCA Bank is a joint venture between FCA Italy S.P.A. and Crédit Agricole Consumer Finance. The first is fully owned by FCA, while the second is a subsidiary of Crédit Agricole S.A.. FCA Bank, in turn, controls the following companies which can be divided into: Banking Group and Non Banking Group.

Corporate[6]

Banking groupe (share holding):

Non Banking Group (share holding):

See also

Notes

  1. ↑ http://www.fcabankgroup.com/en/who-we-are
  2. ↑ https://www.moodys.com/research/Moodys-Upgrades-FCA-Banks-deposit-ratings-to-A3-and-issuer--PR_352023
  3. ↑ http://www.lastampa.it/2016/08/03/economia/ferrari-s-della-ue-al-controllo-congiunto-di-financial-services-insieme-a-fca-bank-stggrjWcaQgzOGJtVAs1WP/pagina.html
  4. ↑ http://www.repubblica.it/motori/sezioni/attualita/2016/10/05/news/fca_bank_sostiene_il_risparmio_degli_automobilisti-149091414/?refresh_ce
  5. ↑ http://www.fcabankgroup.com/en/where-to-find-us
  6. ↑ http://www.fcabankgroup.com/en/who-we-are/company-structure

Gallery

External links

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