In a difficult economic and financial environment, RCI Banque’s pre-tax income increased 1% to €487 million, while sales activity remained stable with 826,154 new vehicles financed, representing a slight 3.7% decrease year-on-year.

- New financings by RCI Banque amounted to €8.3 billion in 2009, down 7% from 2008 for a total of 826,154 new vehicles, of which 22% outside Europe.
- Average performing loans outstanding totalled €20.2 billion, down 11% from 2008, while net banking income was unchanged at €1,044 million, representing 5.17% of loans outstanding and a 0.59 point increase from 2008.
- RCI Banque’s pre-tax income came to €487 million, up 1% from 2008, for an ROE excluding non-recurring items of 16.3%, representing a rise of almost two points from 2008 (14.5%).

In a year of unprecedented crisis in the financial and automotive markets, RCI turned in highly contrasting performances; sales declined sharply in the first half-year, while new vehicle financing picked up in the second driven by government assistance plans and initiatives from the carmakers.

Against the backdrop of a 4.5% contraction in the global automobile market, RCI Banque financed 826,154 new vehicles, a slight 3.7% decrease from 2008. The group’s penetration rate in the new vehicles market came in at 30%, and breaks down make-wise as follows: 32.3% for Renault, 47.2% for Renault Samsung Motors, 22.9% for Dacia and 20.4% for Nissan including Infiniti.

In 2009, RCI Banque strengthened its presence in Turkey by signing a letter of intent with a local partner for a joint venture to offer financing to Renault customers. It also launched a corporate financing business in Bulgaria via a commercial agreement with a National Bank of Greece subsidiary.
In the services field, RCI commenced operations at its two Maltese insurance subsidiaries, RCI Insurance and RCI Life.

In the French market, Diac posted higher sales and turned in a sound financial performance. New financings were up 3% from 2008 for a total of 276,234 financed vehicles, while average performing loans outstanding remained relatively stable at €7.8 billion. Diac’s pre-tax income excluding non-recurring items came to €143.4 million, on a par with 2008.

RCI Banque’s pre-tax consolidated income came to €487 million in 2009, up 1% from 2008. This result can be attributed to net banking income which came in relatively unchanged year-on-year at €1,044 million, the containment of the cost of risk at 0.99% of outstandings despite deterioration in Spain and Romania, and the tight control of operating expenses, which, excluding nonrecurring items, fell by €29 million. Consolidated net income (group share) came to €316 million, while ROE rose by almost two points to 16.3%.

RCI Banque strengthened its cash position to end the year with €4.4 billion of 2009 borrowed funds with maturities of one year or more, made via bond issues, Société de Financement de l’Economie Française (SFEF) loans, and the securitisation of a loan portfolio in the United Kingdom.

2010: Prioritisation of sales development to promote the Renault Nissan Alliance makes

Building on the sales momentum accumulated in the second half of 2009, in 2010 RCI Banque will continue to mobilise all its resources behind the five makes of the Renault Nissan Alliance by developing a competitive financing and services offer for automobile users. This development will necessarily be underpinned by continued action to increase competitiveness and contain the cost of risk.

In 2010, RCI will also pursue its international sales offensive in Russia and Turkey and develop services adapted to the needs of its automobile-user customers worldwide. Lastly, the group will continue to develop new services to accompany the arrival of zero-emission vehicles.


RCI Banque - Communications Division

Contact: Luc Gendrot - tel: +33 (0) 1 49 32 88 15 - e-mail: luc.gendrot@rcibanque.com

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