Creation of Bank PSA Finance RUS

On 31 December 2009, Banque PSA Finance received a banking license from the Russian central bank. The license paves the way for the launch of Bank PSA Finance RUS, the new name of its 98%-owned Russian banking subsidiary acquired from AIG in September 2009.

As a result, Banque PSA Finance is one of the first captive carmaker finance companies to be authorised to conduct banking business in Russia. In the coming weeks, Bank PSA Finance RUS will deploy financing solutions for Peugeot and Citroën dealers in Russia as well as loan and leasing offers for their individual and corporate customers. Banque PSA Finance is moving up a gear in its international expansion by stepping up its support for the Peugeot and Citroën brands as they develop in Russia, which will be the Bank’s 24th host country. In 2009, PSA Peugeot Citroën significantly increased its market share in Russia by 0.8 points to 2.9%. 2010 will be a landmark year for the Group’s development in this market, with the start-up of vehicle assembly operations at its Kaluga plant scheduled for March. “With this new initiative,” said Banque PSA Finance’s Chief Operating Officer Philippe Alexandre, “Banque PSA Finance will contribute to achieving PSA Peugeot Citroën’s objective of becoming more global.”