RCI Banque : RCI Banque : press release "Savings accounts activity" for the
RCI Banque group
July, 10 2013
RCI BANQUE AIMING FOR DEPOSITS REPRESENTING 20 to 25% OF AVAILABLE FUNDS IN
*As at the end of 30 June 2013, nearly 33,700 ZESTO savings accounts were
opened, representing net collected savings of 1.192 billion Euros.
*The launch, on 1 July, of the PEPITO term deposit account completed RCI
Banque's savings account services in France.
*Launched in February, the savings account operations in Germany are
showing very encouraging results: at the end of June, 48,000 accounts had
been opened and the net collected savings totalled 1.394 billion Euros for
both savings accounts and term deposit accounts.
*With 2.586 billion Euros in net collected savings at the end of June 2013
in France and Germany, RCI Banque has now achieved its objective,
initially set for the end of 2014.
*RCI Banque has set a new target for 2016. Its ambition is to collect
deposits representing between 20 and 25% of available funds.
«18 months ago, RCI Banque started opening retail savings accounts with the
objective to diversify its funding and to make the company less dependent on
the capital markets.RCI committed to reinvest the deposits in its automotive
finance business in support of the brands of the Renault-Nissan Alliance.With
an outstanding balance of over €2.5 billion at the end of June, the results of
this new activity are very promising and encourage us to set even more
ambitious objectives.By targeting deposits between 20 and 25% of its total
outstandings, RCI Banque will better sustain its future growth.", states
Dominique Thormann, Chairman and CEO of RCI Banque
RCI BANQUE EXTENDS ITS RANGE OF SAVINGS PRODUCTS IN FRANCE WITH THE PEPITO
TERM ACCOUNT MARKETED SINCE 1 JULY.
In February 2012, RCI Banque launched its ZESTO savings account. It was the
first time that a car manufacturer in France offered a savings product and
undertook to reinvest the funds collected into its automotive loans business.
As at 30 June, there were nearly 33,700 ZESTO clients, representing available
funds of 1.192 billion Euros. Wishing to build client loyalty and diversify
its offer, RCI Banque launched PEPITO^, a new savings product. PEPITO is a
3-year term deposit account with a quarterly progressive interest rate which
caters for ZESTO clients. Based on a full online account opening procedure,
there are no opening, management or closing costs. PEPITO offers guaranteed
interest rates which progress quarterly: in this way, acquired interest, added
to the capital, is reinvested each quarter.
VERY ENCOURAGING RESULTS AFTER 4 MONTHS' OPERATION IN GERMANY COLLECTING
Only one year after launching ZESTO in France, RCI Banque has started a
savings account operation in Germany. Initially offering a current account,
the range was enlarged with the offer of term deposit accounts on 29 April.
This is a fixed rate, term deposit account offering 4 different maturity
dates (1, 2, 3 and 4 years). Capitalising on its experience in the domestic
market, RCI Banque is offering simple and effective products in Germany, with
full online marketing and digitally-focused advertising.
At the end of June, the global available funds of the savings business in
Germany stood at 1.394 billion Euros. Current accounts presently exceed 1.1
billion Euros of available funds, whilst two months after their launch, term
deposit accounts have collected nearly 300 million Euros.
AS AT THE END JUNE THE TWO OPERATIONS HAD COMBINED FUNDS OF OVER 2.5 BILLION
As at 30 June, the net collection^ from the first half year - 1.6 billion
euros - represents 40% of RCI Banque's refinancing plan for that half year
(refinancing plan of 3.9 billion euros). RCI Banque has collected 2.5 billion
Euros in deposits through savings operations in France and Germany, which
corresponds to approximately 10% of the company's available funds.^ The
amount initially targeted for by the end of 2014 has therefore been achieved
at the end of June 2013.
RCI BANQUE HAS SET ITSELF AN AMBITIOUS TARGET FOR 2016, AIMED AT ENABLING IT
TO REFINANCE THE COMPANY'S AVAILABLE FUNDS BY 20 TO 25% FROM DEPOSITS
RCI Banque is constantly seeking to optimise the cost of its financial
resources in order to guarantee the competitiveness of its automotive loans
and the viability of the company's operations. Developing the savings deposits
business is therefore essential to its long-term strategy of diversifying the
refinancing of the company.
RCI Banque has set itself a target: to have savings deposits representing 20
to 25% of its available funds. The operational objectives for collecting
deposits will be adjusted according to the growth of RCI Banque's available
funds but also by taking into consideration market costs for refinancing.
RCI Banque H+K Strategies
Sophie Guiot + 33(0) 1 41 05 44 17
+ 33(0) 1 49 32 86 44 firstname.lastname@example.org
More about RCI Banque:
Created and totally owned by the Renault group, RCI Banque is a French bank
specialising in automotive financing and services for the group's clients and
dealer network (Renault, Renault Samsung Motors and Dacia) throughout the
world and the Nissan group (Nissan and Infiniti) chiefly in Europe and South
America. Present in 36 countries, RCI Banque has over 2.5 million clients,
financing nearly 1,102,000 customer accounts per year, with a portfolio of
24.1 billion Euros of funding at the end of 2012 and record pre-tax earnings
of 773 million Euros. To find out more about RCI Banque click on:
Appendix to the PEPITO term deposit account
The PEPITO term deposit account is a risk-free investment over 3 years, with
step-up rates: the longer you keep the account open, the more interest you
earn, which is reinvested each quarter.
It is the ideal solution for clients who wish to finance short-term projects,
regardless of their savings capacity. This is a risk-free investment giving
access to capital at all times whilst benefiting from early withdrawal
conditions without incurring penalties*.
The key features of the PEPITO term deposit are as follows:
- One single payment via bank transfer from the ZESTO savings account of 5,000
€ to 1,000,000 €.
- No costs for opening, managing or closing the account.
- Total online account opening procedure from a secure client site.
PEPITO ensures progressive remuneration through:
- guaranteed gross rates of up to 3.5% which increase quarterly.
- a guaranteed gross annual rate of 2.5% over 3 years.
1^st Quarter 1.60%
2^nd Quarter 1.70%
3^rd Quarter 1.80%
4^th Quarter 1.90%
5^th Quarter 2.30%
6^th Quarter 2.40%
7^th Quarter 2.50%
8^th Quarter 2.60%
9^th Quarter 3.10%
10^th Quarter 3.20%
11^th Quarter 3.40%
12^th Quarter 3.50%
For more information on the PEPITO term deposit account, go to the website:
* In the event of early withdrawal, repayment is calculated according to the
a) Cancellation during the 1st month of the quarter: no interest paid for the
b) Cancellation during the 1st quarter of a three-year period: interest
accrued during the period the account has been opened will be calculated on
the basis of 90% of the interest rate applied for this quarter.
b) Cancellation after the 1st quarter of a three-year period: interest accrued
during the quarter will be calculated on the basis of the preceding quarter.
The PEPITO account is an agreed term deposit account over a period of 3 years,
reserved for holders of a ZESTO savings account who are over the age of 18.It
offers progressive quarterly repayments and its gross annual actuarial
interest over the whole period is2.5%.The investment can be repaid at any time
(full early repayment only). In this event, the subscriber shall receive a
reduced repayment.Minimum deposit 5,000 €.
For more information, consult our website: www.livretzesto.fr
The PEPITO term deposit account is presented in greater details in the
The net collection is the net amount collected between the end of December
2012 and the end of June 2013.
The reference point for outstanding is that reached at the end of December
2012, i.e., 25.7 billion Euros
RCI Banque - Savings accounts - 10-07-2013
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information contained therein.
Source: RCI Banque via Thomson Reuters ONE
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