Monday, February 22, 2021
2020 ANNUAL RESULTS: RCI BANK AND SERVICES MAINTAINS A ROBUST COMMERCIAL AND FINANCIAL PERFORMANCE
IN A CAR MARKET IN STEEP DECLINE
- Against the backdrop of the Covid-19 pandemic and a global automotive market down 19.4%1, RCI Bank and Services reached a record penetration rate2 of 47.5% of registrations compared with 44.2% vs 2019.
- In Europe, RCI Bank and Services supported Renault, the leading brand in electric vehicle sales, in reaching its CAFE objectives3 and financed 49,434 Z
OE contracts, for an increase of +104% vs 2019.
- With 349,243 financing contracts, down -5.2% from 2019, the used vehicles business showed resilience in 2020.
- RCI Bank and Services sold 4.6 million service contracts in 2020, down -9.6% on 2019, with 1.8 services sold for each vehicle registered.
- Cost of risk remained under control at 0.75% of average performing assets, compared with 0.37% in 2019. The increase can be attributed to provisions aimed at covering the non-payment risk of some customers and business sectors made fragile by lockdown measures and the slowdown in business.
- In this context, RCI Bank and Services maintained a robust financial performance, with pre-tax group income of €1,003 million, down -24.4% from 2019.
- Deposits from individual customers grew by €2.8 billion to reach €20.5 billion, 43% of the company’s net assets at end December 2020.
- With a Net Promoter Score4 of +47 points in 2020, RCI Bank and Services maintained a high level of customer satisfaction. During the first half of the year, RCI Bank and Services’ Net Promoter Score was 19 points higher than that of other captive finance companies, and 27 points higher than that of traditional banks.
“With a pre-tax income of €1,003 million, RCI Bank and Services is continuing to make a strong contribution to Groupe Renault’s results. Its profitability, its investment capacity, and its high rate of customer satisfaction are strengths that Groupe Renault can draw on. Starting in 2021, RCI Bank and Services will use its expertise in automotive financing and fleet management to support Mobilize,” said Clotilde Delbos, Deputy Chief Executive Officer and Chief Financial Officer of Groupe Renault, CEO of the Mobilize brand and Chairman of the Board of Directors of RCI Bank and Services.
“Despite a sharp decline in registrations in 2020, RCI Bank and Services maintained its average performing assets at the level recorded of 2019. We have been supporting the sharp upturn in the Alliance brands’ business activity since June. This is reflected in a penetration rate of 47.5%, up 3.3 points. I would like to thank all our employees for the commitment they have shown throughout 2020. In 2021, we will offer digital journeys and even more flexible offers to our customers in order to strengthen our performance and boost our support to the Alliance brands,” explained João Leandro, Chief Executive Officer of RCI Bank and Services.
SALES PERFORMANCE: A…