|RCI Bank and Services|
|Industry||Automotive financing, insurance and related services|
|Founded||21 August 1974|
|Revenue||€1.36 billion (2015)|
|€844 million (2015)|
|Profit||€539 million (2015)|
|Total assets||€37.07 billion (end 2015)|
|Total equity||€3.51 billion (end 2015)|
Number of employees
RCI Banque SA (French pronunciation: [ɛʁ se i bɑ̃k]), trading as RCI Bank and Services and formerly known as Renault Crédit International, is a France-based international company that specialises on automotive financing, insurance and related activities for the Renault group brands (Renault, Renault Samsung Motors, Dacia) globally and for the Nissan group brands (Nissan, Infiniti, Datsun) in Europe, Russia and South America. RCI Banque is a wholly owned subsidiary of Renault.
The company was founded by Renault in 1974 as the Société Financière de Renault or Sofiren, being intended as a way of financing sales for its dealerships and to manage the automaker's cash flow. On 27 June 1980 it was renamed Renault Crédit International (RCI). In 1990, it merged with Diac (Diffusion Industrielle et Automobile par le Crédit) SA, a company formed in 1924 by Louis Renault as a result of the lack of liquid funds after the 1921 crisis and with similar objectives, but focused exclusively on loans for the purchase of vehicles (today Diac operates as a RCI Banque's wholly owned subsidiary ). By 1990, RCI contributed with more than one-third of Renault group's net income. In November 2001, the company was named RCI Banque. In February 2016, as part of a corporate image revamp, RCI Banque adopted the commercial name RCI Bank and Services.
RCI Bank and Services offers automobile financing lines (11.09 billion euros in financing and 1,024,771 vehicles at the end of 2011), insurance (2.5 million active insurance policies at the end of 2011) and related services, including car loans (used and brand-new), 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.
The company also finances new vehicles, used vehicles, and spare parts, as well as short-term cash requirements for the Renault-Nissan Alliance dealerships. It has subsidiaries in Argentina, Brazil, Colombia, Mexico, Algeria, Morocco, Turkey, Russia, Ukraine, South Korea, and the European Union.
RCI Bank and Services 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.
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 to be performed by an automaker's subsidiary in France. The launch was accompanied by a TV commercial from Romain Kunstlinger. The success of this initiative led to other automotive groups operating in the French market, as PSA Peugeot Citroën, to consider launching similar projects. At the end of 2012, RCI Banque announced plans to extend ZESTO to Germany. The German version of ZESTO was launched in 2013 and was called RCI Bank Direkt. In January 2014, ZESTO-Bank Direkt had over 136,000 customers.
In June 2015, RCI Banque's British subsidiary, RCI Bank, launched a savings account system in the United Kingdom, becoming the first car manufacturer-related financial company to do so. The newspaper The Daily Telegraph, published a report on RCI savings by James Daley, the founder and managing director of Fairer Finance, a consumer group and financial ratings website. Daley criticised RCI by saying that it does not have a British banking licence, is not a member of the Financial Services Compensation Scheme (FSCS) and its credit rating is BBB. Other analysts, as Lee Boyce from DMG Media's This is Money, while also criticising the non-membership to FSCS, praised the RCI Bank's savings accounts for their accessibility and for pushing rival banks to offer better returns.
- Gianluca De Ficchy (Chief Operating Officer)
- Alice Altemaire(Vice President, Accounts and Performance Control)
- Dominique Signora (Vice President, Territories)
- Daniel Rebbi(Vice President, Sales & Marketing)
- Jean-Philippe Vallée(Vice President, Customer Operations)
- Umberto Marini (Vice President, IS/IT)
- Hélène Tavier (Vice President, Human Resources)
- Jean-Marc Saugier (Vice President, Finance and Group Treasurer)
- Patrick Claude (Vice President, Corporate Secretary and Risk functions)
Board of Directors
- Dominique Thormann (Chairman of the Board)
- Farid Aractingi
- Philippe Buros
- Patrice Cabrier
- Bernard Loire
- Éric Spielrein
- Jérôme Stoll
- Stéphane Stoufflet
- Philippe Gamba (Honorary Chairman)
- Gilbert Guez (Honorary Chairman)
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.
- "RCI Banque". societes.com. Groupe Adverline. Retrieved 1 October 2014.
- "Company Description: RCI Banque SA". businessweek.com. BusinessWeek. Retrieved 1 October 2012.
- "2015 Business Report" (PDF). RCI Banque. Retrieved 2 March 2016.
- "New logo, new visual identity, new website". RCI Banque. 15 February 2016. Retrieved 2 March 2016.
- 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.
- "2011 Annual Report" (PDF). RCI Banque. Retrieved 1 October 2012.
- "Renault veut implanter sa filiale bancaire en Russie" [Renault will go to establish a financial subsidiary in Russia] (in French). Finance-banque.com. Retrieved 10 April 2013.
- "Profile: RCI Banque SA". Moody's Investors Service. Alacrastore.com. Retrieved 3 October 2011.
- 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.
- Lescure, M. (1995). "Banking in France in the Inter-War Period". In Feinstein, Charles H. Banking, Currency, and Finance in Europe Between the Wars. Oxford University Press. p. 325. ISBN 0-19-828803-4.
- 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.
- "Directory: DIAC SA". Insideview.com. Retrieved 3 October 2012.
- 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.
- Watson, Rick; Carter, Jeremy (2006). Asset Securitisation and Synthetic Structures: Innovations in the European Credit Markets. Euromoney Books. p. 168. ISBN 1843742004.
- Fardeu, Aurélie (20 February 2012). "Le constructeur Renault lance un livret d'épargne qui tient la route" [The automaker Renault launched a savings account that holds up]. votreargent.lexpress.fr (in French). L' Express. Retrieved 3 October 2012.
- Making of the Livret Zesto TV Commercial
- "Renault Says RCI Banque Lifts 2012 Targets For New ZESTO Deposit Accounts". RTTNews.com. NASDAQ. Retrieved 3 October 2012.
- 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. Retrieved 4 October 2012.
- "RCI Banque's retail savings accounts exceed €4.3 billion in deposits at end December 2013". Renault. 15 January 2014. Retrieved 1 October 2014.
- Dunkley, Emma (7 June 2015). "Renault savings bank rolls into UK". ft.com. Financial Times. Retrieved 13 September 2015.
- Daley, James (16 June 2015). "Are your savings safe in Renault's new bank?". telegraph.co.uk. Telegraph Media Group. Retrieved 13 September 2015.
- Boyce, Lee (20 July 2015). "Renault's bank boasts best easy-access rate after lifting interest on its savings account to 1.65%". thisismoney.co.uk. DMG Media. Retrieved 13 September 2015.
- 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.
- "Renault signs deal with DIAC". GPupdate.net. Retrieved 3 October 2011.