The partnership agreement signed in July 2014 with Santander Consumer Finance for the creation of joint ventures and commercial relations in 11 European countries and the agreement of 24 July 2015 with Banco Santander Brasil for operations in Brazil have boosted the competitiveness of the PSA Group's three Brands in Europe and Brazil.
Through its partnership with the largest bank in the euro zone, the BPF Group secures access to refinancing, lowers its financing costs, and boosts the competitiveness of its offer.
"This partnership is a further step in increasing the profitability of Banque PSA Finance and the Group's competitiveness."Chairman of Banque PSA Finance
This partnership has been operational in Europe since early 2015 in the form of joint ventures equally owned by Banque PSA Finance and SCF in 11 European countries, which account for 90% of the business of the PSA Group’s bank.
It was launched in Brazil on 1 August 2016.