Following the restructuring of Stellantis’s European financial and services business
COVID-19: PSA Banque France takes protective measures for everyone.
The PSA Banque France Group has given itself the following three priorities in the context of the management of the health crisis linked to Covid-19:
- the protection of its employees;
- customer support;
- maintaining its activity over time.
In this context, the PSA Banque France Group with its subsidiary CREDIPAR has set up a crisis unit to take concrete measures in each of these areas.
Regarding the protection of its employees, the group strictly applies all the measures suggested by the World Health Organization (WHO) and the French authorities while ensuring the continuity of its activity, in particular by implementing the following measures:
- generalization of remote work with immediate effect by establishing systematic teleworking as soon as possible;
- implementation of a reinforced security protocol against health risk;
- identification of areas of activity under stress in order to strengthen the resources made available to employees and to guarantee effective reinforcement to ensure their activity;
- implementation of collaborative digital and IT tools (data and information sharing network) to enable business to continue.
In addition, the PSA Banque France Group remains close to its individual and professional customers by providing them with personalized solutions.
A crisis unit monitors the situation on a daily basis as well as the measures implemented. The duration of the crisis remains uncertain to date, and the permanent evolution of the situation does not allow us to assess its long-term consequences for the moment. However, with the various measures taken to continue its essential activities, help its customers and protect its employees, the PSA Banque France Group is setting itself up to limit the impact of this crisis and support the activities of the PSA Group as soon as they resume.
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About the PSA Banque France Group:
The PSA Banque France Group is the finance company of the Peugeot, Citroën and DS brands of the Groupe PSA in France, offering car financing, insurance and related services as well as savings for the general public. It supports the development of vehicle sales for the three historic brands of the Groupe PSA, Peugeot, Citroën and DS, and the distribution network of its dealers.
The PSA Banque France Group was formed in 2015 by the consolidation of the Groupe PSA's financing activities in France operated by various companies including CREDIPAR, following the establishment of the partnership between Banque PSA Finance, the PSA Group's financial specialist in automotive finance and Santander Consumer Finance, the Banco Santander subsidiary specializing in consumer credit, each holding 50% of its capital.
In 2019, with nearly 850 employees and outstanding financing exceeding 13.5 billion, the PSA Banque France Group financed the acquisition of more than 320,000 new vehicles during the year (for the purchase or rental of new vehicles and used vehicles) with nearly 700,000 insurance and related services. Since 2015, the PSA Banque France Group has also directly marketed savings products under the brand name ‘Distingo by PSA Banque ’, which represented 20% of its sources of refinancing at the end of 2019.
To find out more about the PSA Banque France Group: www.psa-banque-france.com