First-half 2018 results: RCI Bank and Services pursues its growth and posts a 6.8% increase in new financings

RCI Bank and Services reported strong business growth in first-half 2018 with 947,146 new financing contracts, up 7.3% on first-half 2017. The overall penetration rate[1] on Alliance brand sales came out at 41.8%, up 1.1 points. The number of new financing contracts rose 6.8% year on year, totaling €11.1 billion. The amount of average performing assets[2] increased 13.3% to €43.7 billion at end-June 2018. Pre-tax income grew 14.3% to €617 million in first-half 2018.


  • 947,146 new financing contracts, up 7.3% on first-half 2017, for a total €11.1 billion in new financings (an increase of 6.8%).
  • Overall penetration rate of 41.8% of registrations, up 1.1 points at end-June 2018.
  • Average performing assets of €43.7 billion, up 13.3% on end-June 2017.
  • Net banking income of €984 million, an increase of 15.8% on end-June 2017 and representing 4.54% of average performing assets at end-June 2018.
  • A ratio of operating expenses to average performing assets stable at 1.37%, compared with first-half 2017.
  • An operating ratio of 30.1%, down 0.9 points.
  • Cost of risk at 0.37% of average performing assets, compared with 0.29% at end-June 2017.
  • Group pre-tax income of €617 million, up 14.3 % on first-half 2017.


RCI Bank and Services has once again posted a strong increase in first-half results and confirms its position as a driver of the Alliance brands’ growth. RCI Bank and Services is generating record, lasting and profitable growth while strengthening its sales offer and strategy on attracting new customers through mobility services,” said Clotilde Delbos, Chairman of the Board of Directors of RCI Bank and Services.


RCI Bank and Services continued its growth momentum at a brisk pace. It posted an increase in sales performance. In addition, with 2.4 million services sold and 185,512 new financing contracts for used vehicles in the first half, RCI Bank and Services reasserted its goal of diversifying its offering to better respond to the needs of Alliance brand customers. These results are reflected in a high level of profitability. This success results from the commitment of the entire company,” said Bruno Kintzinger, Chief Executive Officer of RCI Bank and Services.



In an automotive market that grew 4.8% in the operating countries of RCI Bank and Services subsidiaries[3], the sales volumes of the Alliance brands increased 1.4% in first-half 2018. RCI Bank and Services successfully took advantage of this market momentum while continuing to improve its overall penetration rate. At end-June, it stood at 41.8% excluding companies accounted for under the equity method, up 1.1 points on first-half 2017.

Together, these performances resulted in an increase in the production of new financing contracts for new vehicles, with a total 761,634 contracts at end-June 2018 compared with 724,577 at end-June 2017, an increase of 5.1%.

The used-vehicle financing business continued to grow, gaining 17.4% with 185,512 contracts financed at end-June 2018 compared with 158,049 at end-June 2017.

The combined increase in the new- and used-vehicle financing businesses enabled RCI Bank and Services to post stable and sustained growth in contract volumes, up 7.3% year on year (947,146 new contracts compared with 882,626 at end-June 2017).

The total number of new financing contracts rose 6.8% year on year to €11.1 billion at end-June 2018.


The services activity, a pillar of the group’s strategy, continues to expand, building both on the momentum of the car market and the growth in the financing business. RCI Bank and Services sold nearly 2.4 million insurance and services contracts in first-half 2018, an increase of 14.4%.



Bolstered by strong growth in new financings, RCI Bank and Services’ average performing assets rose 13.3% on first-half 2017 to a total €43.7 billion.

Net banking income came out at €984 million, up 15.8% on first-half 2017. The increase resulted from the combined growth of the financing business and the services business.

The cost of risk, which now includes the application of the IFRS9 standard, came out at 0.37% of average performing assets, compared with 0.29% in first-half 2017, confirming a robust approval and collection policy. Operating costs totaled €296 million in first-half 2018, representing 1.37% of average performing assets, stable on end-June 2017. The operating ratio remained at a controlled level of 30.1%, demonstrating the ability of RCI Bank and Services to manage its expenditure while supporting the implementation of strategic projects and the growth of its business activity.

Pre-tax income came to €617 million, up 14.3% year on year despite a negative currency effect of €23 million stemming from the devaluation of the Brazilian real and Argentine peso. Consolidated net income – the share of parent company shareholders – totaled €435 million, compared with €347 million in the first half of 2017.



In first-half 2018 RCI Bank and Services launched three public bond issues and an issue in Swiss francs, together with private placements and a securitization transaction for a total of approximately €4.0 billion.

This alternation of maturities, coupon types and issue formats is an integral part of the strategy on the diversification of financing sources led for several years by the group, and serves to reach the greatest number of investors.


The collection of deposits constitutes a lever for diversifying refinancing sources for the Group’s business. At June 30, 2018, net deposits collected amounted to €16.0 billion, or 35% of assets[4] at end-June 2018, thus meeting the objective of maintaining deposits at around one-third of the financings granted by RCI Bank and Services to its customers.





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