Crédit Agricole Consumer Finance confirms its ambition to be a major player in Spain by owning 100% of the capital of SoYou
Crédit Agricole Consumer Finance cwe confirm ambition
be a major player in Spain
by owning 100% of The capital of SoYou
Massy / Madrid, 3rd June 2021 – Agricultural crediticole Consumer Finance will take more than 100% of the capital of SoYou, their consumer credit subsidiary created with Bankia in Spain, ais part of the mergeruh between Bankia and Caixabank, and give him a new strategy to accelerate its growth. The Banc of Spain approved the deal 1st June.
Agricultural creditConsumer Finance is thus confirm up his ambition to be a major player im the spanish market. This agreement is in line with the strategy presented last December: to strengthen CA Consumer Finance’s leadership in the European consumer credit market.
1st In June 2021, the Bank of Spain approved the acquisition by CA Consumer Finance of Bankia’s 49% stake in SoYou. The amount of the transaction is not public.
Accelerate growth in Spain
Stéphane Priami, Managing Director of CA Consumer Finance and Deputy Managing Director of Crédit Agricole SA, in charge of the Specialized Financial Services business line, is pleased to “this agreement, which reaffirms CA Consumer Finance’s ambition to accelerate its growth in Spain, the fourth largest market in continental Europe for consumer credit. Spain is a market in which the Crédit Agricole group is developing. It has established several of its businesses there, including consumer credit and, more generally, those of the Specialized Financial Services division. I would like to thank the Bankia teams for the constructive and transparent spirit which drives our cooperation. “
CA Consumer Finance has defined a new strategy to accelerate the growth of SoYou. Its subsidiary will be equipped with a full range of services to better support CA Consumer Finance’s pan-European partners in the Spanish market.
“We are confident in CA Consumer Finance’s ability to continue developing SoYou. It was a pleasure to work together above last years”, add CaixaBank resources.
As of December 31, 2020, SoYou had 108 employees and managed 103 million euros of outstanding loans.
CA Consumer Finance Press Office: +33 (0) 1 87 38 15 87 – [email protected]
About Crédit Agricole Consumer Finance:
Crédit Agricole Consumer Finance, a consumer credit subsidiary of Crédit Agricole SA, distributes a wide range of consumer credit and associated services for all distribution channels: direct sales, point-of-sale financing (automotive and household appliances ) and partnerships. Present alongside large-scale distribution, specialized distribution and institutional brands in the 19 countries where it operates, CA Consumer Finance offers its partners flexible, responsible solutions that are perfectly suited to their needs and those of their clients. Excellence in customer relations, responsible teams for customers and societal commitment are the pillars that make CA Consumer Finance a group that works on a daily basis in the interest of its 15 million customers and of society. As of December 31, 2020, CA Consumer Finance manages € 91 billion in outstanding loans.
Find out more: www.ca-consumerfinance.com