Renault Credit International to Establish Own Bank in Russia
Post date:
Monday, November 14, 2011 - 12:02Country:
Russian Federation
The Moscow based-unit will provide services all over Russia from September 2012, RCI Banque Eurasia region director Bruno Kintzinger told reporters at the opening of AAA Motors, the largest Renault dealership in southern Russia. RCI, operating in 27 countries, provides car loans and brings in about €700 million total revenue. It currently offers its services in Russia through its partner bank UniCredit. The bank will also invest in a dealer network.
French Renault Credit International (RCI) is planning to invest about US$400 million (app. €280 million) to open its own bank in Russia