CA Auto Bank celebrated its 100th anniversary (SAVA, a company that supported the purchase of Fiat cars, was founded in 1925) by presenting its growth plans for the near future.
Confirming its focus on sustainable mobility, a digital account for the retail segment, in the neobank style, is also on the way.
Alongside the deposit account
In addition to traditional banking features, the digital account will offer remuneration for cash deposits and will thus complement the deposit account, already available in seven markets, as a tool for collecting cash from the retail market.
2024 results
Present in 19 countries with over 2,650 employees, CA Auto Bank closed 2024 with €30 billion in loans, financing vehicles for €11.3 billion and an operating profit of €390 million.
Above all, it grew by 9% compared to 2022, when it was still called FCA Bank and was the captive of the FCA automotive group, which held 50% in a joint venture with CA Personal Finance. The creation of Stellantis paved the way for the acquisition by CA, which now owns 100%.
Independent player
Growing compared to 2022, even without the momentum of FCA/Stellantis, is a sign that there is room for an independent player in the mobility market. CA Auto Bank's list of over 60 partners includes large and small brands, ranging from cars to commercial vehicles and boats.
Quite simply, many vehicle manufacturers, such as those in the East or the US (names such as Tesla, MG, BYD, etc.), do not want to set up a captive in the many European markets, nor do they want to rely on a competitor's captive. Hence the strategy of CA Auto Bank, which from Turin aims to be the point of reference for all 19 markets in which it operates.
There is also demand for financial instruments that make mobility more accessible, given the difficulties facing the automotive market, particularly the surge in vehicle prices and the impact of regulations, which have penalized new sales (electric vehicles have yet to take off) and boosted used car sales.
The push towards digital
Also noteworthy are the Group's many initiatives on the digital front. Ninety percent of contracts in 2024 were finalized entirely digitally, and in 22% of cases, open banking was used, obtaining customer consent to access their current account movements. This improves the assessment of creditworthiness and the sustainability of financing.
CA Auto Bank aims to have 35% of contracts supported by open banking by 2026.
The company is also working on the implementation of artificial intelligence with nine projects focused on underwriting, customer care, and sales and marketing.
Financial services for mobility
Synergies with the Crédit Agricole Group remain extensive and also cover the range of products and services offered. Currently, the penetration rate is 102%, with at least one product or service sold for each contract. By mid-2025, the target is to reach at least 150%, with an average of 1.5 products/services per contract.
Mobility in evolution
Mobility trends will dictate future strategies. First and foremost, the shift from ownership to use. The “subscription” rental offers of the subsidiary Drivalia are going strong, with 60,000 contracts in 2024. The company has also strengthened its commitment to long-term rental, aiming to grow in the corporate fleet segment.
Most recently, Drivalia Future was launched, a marketplace for used vehicles from expired rental contracts that are available for both re-rental and sale. In the first quarter of the year, Future has already placed 3,000 cars.
“I am truly delighted to celebrate this important milestone for CA Auto Bank,” said Stéphane Priami, President of CA Auto Bank and CEO of CA Personal Finance & Mobility. ”We have a clear vision: to become the European leader in sustainable mobility, particularly electric mobility, by offering a wide range of innovative solutions in all the countries where we operate. CA Auto Bank and Drivalia are one of the key international pillars on which our ambitious strategy is based.”
“Celebrating 100 years of CA Auto Bank is not just about paying tribute to our history, but also reaffirming our commitment to continue innovating with the same enthusiasm as our predecessors, who were able to turn every change into an opportunity,” added Giacomo Carelli, CEO of CA Auto Bank and President of Drivalia. In a century, we have gone from financing the first cars to leading the revolution in sustainable, digital, and accessible mobility. This milestone marks the beginning of a new chapter: we want to continue to be the mobility bank for a better planet. And we will do so together with all our colleagues in the Group, who every day, with passion, expertise, and vision, make this journey possible.”
