Insurer BNP Paribas Cardif today announced the signature of an agreement with Ageas to acquire the latter’s 33.33% equity interest in Cardif Lux Vie. BNP Paribas Cardif becomes the majority shareholder of Cardif Lux
Vie, with a 66.67% stake.

Previously owned by BNP Paribas Cardif (33.34%), Ageas (33.33%) and BGL BNP Paribas (33.33%), the Luxembourg insurance company Cardif Lux Vie markets savings and insurance products for individuals and businesses. The company’s solid position is anchored by international diversification in terms of its presence in clients’ domestic markets, distribution markets, partners and solutions offered.

Since 2011, the three shareholders in Cardif Lux Vie – which was created through the merger of Cardif Lux International and Fortis Luxembourg Vie – have developed the insurer’s activities to make it a major player in the Luxembourg insurance market. In 2017 Cardif Lux Vie had gross written premiums of 2.8 billion euros and pre-tax
net profit[1] of 52.9 million euros.

This acquisition allows BNP Paribas Cardif to continue growing its savings business across the insurer’s three domestic markets – France, Italy and Luxembourg – and to strengthen its presence in Luxembourg, its third-
largest market in terms of gross written premiums. BNP Paribas Cardif becomes the majority shareholder in a company with proven European expertise that is experiencing growth in all its core businesses and is a leader in assets gathered in unit-linked investments.

This transaction is subject to approval by regulatory authorities and is expected to close at the latest during the
first quarter of 2019.

 

[1] Pre-tax net profit under Luxembourg local GAAP accounting standards; 63.5 million euros in pre-tax net profit under Group IFRS.

  • BNP Paribas has signed an agreement with UNI Global Union on seven subjects relating to fundamental rights at work and the establishment of a global social framework.
  • The agreement, which applies to the 200,000 Group employees in 73 countries, will enable the Bank to further improve the quality of life and working conditions.

BNP Paribas signed today, at the premises of the OECD and in the presence of representatives of the French Ministry of Labour, an agreement on fundamental rights and the creation of a global social framework for labour rights with UNI Global Union, the international trade union federation for the service sector.

Through this agreement, BNP Paribas commits to consolidate fundamental rights at work and to create a global social framework for its 200,000 employees in 73 countries, on the following main topics:

  • Human rights, social dialogue and trade union rights, which reaffirms BNP Paribas’ commitment to meeting international standards and reinforces awareness and training mechanisms for employees.
  • Social and environmental responsibility, which underlines the Group’s ambition to contribute to more sustainable and better-shared growth, with the aim in particular of reaching by 2020 a total volume of 1 million paid solidarity hours at Group level, worldwide.
  • Employment management and skills, which is a reminder of the Group’s desire to accompany its employees in the context of changing skill requirements through its HR 2020 strategy, and to always favour solutions based on volunteering in the event of organisational change.
  • Gender equality, with particular attention paid to the reinforcement of gender diversity in certain trades that have historically been predominantly male or female.
  • Promotion of diversity and inclusion, to continue the deployment of the Group’s policies around the world, including the commitment to put in place at least one of the 10 commitments of the ILO Global Business and Disability Charter.
  • Prevention of and fight against moral and sexual harassment, which reaffirms the Group’s desire to prevent and combat all forms of harassment.
  • Health and quality of life at work, which establishes for all employees a maternity leave of at least 14 weeks, death insurance, incapacity/disability insurance and a health insurance plan.

 

Yves Martrenchar, Head of Group Human Resources, member of the Executive Committee of BNP Paribas, and signatory of the agreement, said: “This comprehensive and ambitious agreement confirms BNP Paribas’ international social commitment and its ambition to be an ever more responsible employer with regards to its employees. It will contribute to improving the quality of life and working conditions within BNP Paribas, while being a source of performance for the Group as a whole.”

Antoine Sire, Head of Corporate Engagement and member of the Group Executive Committee, added: “This agreement will enable many employees to contribute – as part of their work – to the efforts of associations for a more inclusive and sustainable world. It is a decisive contribution to BNP Paribas’ commitment to society.”

This agreement will be applied progressively over the next three years in all the entities of the 73 countries where the Group is present and will be regularly monitored by a dedicated committee.

It is part of the BNP Paribas 2020 Engagement Manifesto and UNI Global Union’s Breaking Through Strategic Plan, and confirms the Group’s commitment to the international Global Deal initiative, developed by Sweden and which France has joined, aiming to combine business performance and human rights development, with the support of trade union organisations and the International Labour Organization and the Organisation for Economic Cooperation and Development.

This text marks the culmination of an important preparatory work with the HR teams of the main BNP Paribas entities around the world and numerous meetings for discussion and negotiation with the social partners. The signing of this agreement is based in particular on the strong practice of social dialogue at European level within the Group, with three European agreements in force on employment, gender equality at the workplace and the prevention of stress.

 

About BNP Paribas

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including around 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending. BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Istitutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

Press contact:

Renato Martinelli – +33 (0)1 58 16 84 99 – renato.martinelli@bnpparibas.com

Following the agreement signed in February 2018 concerning the acquisition, by BGL BNP Paribas, of all the outstanding shares in ABN AMRO Bank (Luxembourg) S.A. and of its fully owned subsidiary ABN AMRO Life S.A., BGL BNP Paribas announces that the transaction was completed on
3 September 2018. As part of this transaction, the insurance company has been taken over by Cardif Lux Vie. The transaction was approved by the competent regulatory authorities.

“We are delighted that this major acquisition was successfully finalised within the agreed timeframe. The decision to further secure our Group’s footing in the private banking and insurance sectors in Luxembourg reflects our determination to play an active role in the development of the country’s financial sector. We are excited to welcome the new colleagues joining our Group, as well as our new clients, who will have access to the international Wealth Management and Insurance expertise offered by BNP Paribas,” stated Geoffroy Bazin, Country Head of the BNP Paribas Group in Luxembourg, Chairman of the BGL BNP Paribas Executive Committee and Chairman of the Board of Directors of Cardif Lux Vie.

“Amid the consolidation of the private banking market, this acquisition (representing EUR
5.6 billion in assets under management) allows us to strengthen our position in Luxembourg in the big European entrepreneurs segment, and enables us to create synergies”, explained Vincent Lecomte, Co-CEO of BNP Paribas Wealth Management. “We will thus be expanding the range of services so that this new client base can access our unique solutions – in particular private equity, asset management mandates and financing – and draw upon the Group’s expertise in investment banking and real estate.”

About BGL BNP Paribas

BGL BNP Paribas (www.bgl.lu) is one of the largest banks in Luxembourg and part of the BNP Paribas Group. It offers an especially wide range of financial products and bancassurance solutions to individuals, professionals, businesses and private banking clients. At end 2017, the BNP Paribas Group employed around 3,700 people in Luxembourg, of which 2,379 at BGL BNP Paribas.

In 2018, the international magazine Euromoney named BGL BNP Paribas “Best Bank in Luxembourg” for the third year in a row.

About BNP Paribas Wealth Management

BNP Paribas Wealth Management is a leading global private bank and the largest private bank in the Eurozone. Present in three hubs in Europe, Asia and the US, over 6,800 professionals provide a private investor clientele with solutions for optimising and managing their assets. The bank has €364 billion worth of assets under management (as at 31 December 2017) and was awarded “Best Private Bank in Europe, in Asia and in the Western United States” in 2017.

About Cardif Lux Vie

Cardif Lux Vie is a Luxembourg insurance company that ranks among the major players in the market. Owned by a strong shareholder base (BNP Paribas Cardif, BGL BNP Paribas and Ageas), it benefits from a strong foothold both locally and internationally.

Cardif Lux Vie meets the specific needs of customers on several complementary markets: life insurance that caters for retail clients, collective insurance for businesses and international life insurance as a wealth structuring tool.

For private individuals and professionals in Luxembourg and the Greater Region, Cardif Lux Vie provides the bancassurance channels with global, integrated solutions with high added value. For high net worth international clients, the insurer operates under the freedom to provide services regime and has a large network of premium partners (Private Banks, financial institutions, brokers, etc.). It proposes customised and sustainable solutions using a comprehensive range of wealth structuring tools.

About BNP Paribas

BNP Paribas is a leading bank in Europe with an international reach. It has a presence in 73 countries, with more than 196,000 employees, including more than 149,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the European leader in consumer lending.

BNP Paribas is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.

 

Press contacts – BGL BNP Paribas

Eliane Thines                           +352 42 42-62 64                eliane.thines@bgl.lu

Corinne Thill                           +352 42 42-30 85                corinne.thill@bgl.lu

Press contact – Cardif Lux Vie

Emilie Sansonetti                    +352 26 214 5521                   emilie.sansonetti@cardifluxvie.lu

Press contact – BNP Paribas Wealth Management

Servane Costrel de Corainville            + 33 6 74 81 98 27      servane.costreldecorainville@bnpparibas.com

London, Paris – 12th July 2018 BNP Paribas is the world’s best bank for Sustainable Finance according to the Euromoney Awards for Excellence 2018.

In granting this award, Euromoney underlined the significant steps taken by BNP Paribas aimed at having a positive impact on society.

Helen Avery, Sustainable Finance Editor, Euromoney said: “BNP Paribas has committed itself to sustainable finance in a way that is unmatched in the sector. By turning down deals and pulling out of sectors that are not sustainable, as well as driving new sustainable finance initiatives across all of its businesses.”

In particular Euromoney highlighted the Group’s decision to cease financing of oil and gas from shale and oil from tar sands, and its decision to cease financing and investment activities of tobacco companies. At the end of 2017, BNP Paribas had allocated 155bn euros towards financing projects which contribute directly to the achievement of the United Nations Sustainable Development Goals.

Jean Laurent Bonnafe, CEO, BNP Paribas said:

“We are delighted to be recognised by Euromoney in their annual awards for excellence. At BNP Paribas, we put sustainable finance at the heart of our business model. We believe banks have a crucial role to play, leveraging our place at the centre of the economy, in order to bring together individuals, businesses and investors to channel resources towards projects which address the major social and environmental challenges facing society.”

“I would like to thank our clients and partners who entrust us with their projects and who have challenged us to provide new solutions as they also seek more sustainable models. And I would like to thank our staff who are passionate about having a positive impact in their work and have been a key driver in the bank’s focus on environmental and social issues.”

BNP Paribas was also recognised in the following categories:

  • Best Bank for Sustainable Finance, Western Europe
  • Best Bank, Luxemburg
  • Best Investment Bank, France

 

Press contacts

Alexandra Umpleby – +44 20 7595 2436 – alexandra.umpleby@uk.bnpparibas.com
Coralie France-Savin – +33 (0)1 40 14 94 89 – coralie.francesavin@bnpparibas.com
Claire Helleputte – +33 (0)1 55 77 89 63 – claire.helleputte@bnpparibas.com

BNP Paribas Securities Services and DWS, one of the world’s leading asset managers, have entered into an agreement for BNP Paribas Securities Services to provide DWS with fund administration services, and DWS’s retail funds with depositary and custody services, in Germany and Luxembourg. The mandate represents EUR 240 billion in assets.

Upon completion of the transaction, BNP Paribas Securities Services will become the fund administration service provider for DWS’s actively-managed funds in Germany and Luxembourg. It is expected that BNP Paribas Securities Services will also provide depositary and custody services to DWS’s retail funds.

As part of the mandate, DWS will transfer its fund administration unit, which is predominantly based in Germany, to BNP Paribas Securities Services, enabling BNP Paribas Securities Services to further develop its capacity and expertise in Germany and Luxembourg.

BNP Paribas Securities Services was selected for its multi-local market expertise and technology-driven approach to asset servicing and to provide a state-of-the-art platform for DWS.

Patrick Colle, General Manager of BNP Paribas Securities Services, said: “We are delighted to partner with DWS on this important mandate, which will enable us to expand our franchise in Germany and Luxembourg and marks an important milestone in the development of our global funds business.”

Jon Eilbeck, Chief Operating Officer at DWS, said: “Transferring services, such as fund administration, to outside vendors is part of an overall programme to improve the way we operate and service our clients in an efficient and high quality manner as we continue our measures to manage our cost base. We are confident that an agreement will be beneficial to all parties involved, including investors in our funds and colleagues in DWS.”

The transactions are subject to approvals by the parties’ respective governing bodies and by regulatory authorities. Completion of these transactions is expected by the end of the year for the fund administration mandate and in 2019 for the retail funds mandate.

Press Contacts BNP Paribas: Caroline Lumley          caroline.lumley@uk.bnpparibas.com           +44 (0)20 7410 4650

About BNP Paribas Securities Services (www.securities.bnpparibas.com)

BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With local expertise in 36 countries and a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.

Media Contacts DWS 

Adib Sisani          adib.sisani@dws.com           +49 69 910-61960

Klaus Thoma       klaus.thoma@dws.com        +49 69 910-33405

 

About DWS 

DWS Group GmbH & Co. KGaA (DWS) is one of the world’s leading asset managers with EUR676bn of assets under management (as of 31 Mar 2018). Building on more than 60 years of experience and a reputation for excellence in Germany and across Europe, DWS has come to be recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our strategic investment approach.

DWS wants to innovate and shape the future of investing: with staff from 35 nationalities, speaking more than 75 languages rooted in 22 countries, we are local while being one global team.

  • Turnover for 2017 came to €2.8 billion (up by 19.6%)
  • Assets under management at year-end 2017 stood at €22.2 billion (up by 10.6%)
  • Net profit before tax[1] reached €52.9 million (up by 0.4%[2])

For the year ended 31 December 2017, Cardif Lux Vie posted a turnover of €2.8 billion (up by 19.6% on 2016) and took second place in the ranking of Luxembourg insurance companies in terms of intake[3]. The Company also posted €22.2 billion of assets under management and net income before tax of €52.9 million, up by 0.4% on 20162. Cardif Lux Vie thus confirms its position as a major player in the Luxembourg life insurance market, with sustained growth in activity in all its business lines, namely Wealth Management, Retail and Employee Benefits.

In this context, Cardif Lux Vie continues to implement its 2020 transformation plan, putting its clients, partners and employees more than ever at the centre of its development strategy.

Wealth Management: 72% of inflows were invested in unit-linked funds

Cardif Lux Vie confirmed the solidity of its positioning based on the international diversification of its clients’ home markets, the markets on which its products are distributed, partners, and solutions proposed. The Wealth Management business registered an increase of nearly 22% in gross inflows compared with 2016, with 72% invested in unit-linked funds. Net inflows posted a record increase of 57% to more than €1.3 billion. Regarding unit-linked investments, the Company’s portfolio holds more than 4,700 Dedicated Internal Funds, deposited with around a hundred custodian banks and managed by more than 240 asset managers.

Retail: A record for Providence, up by 19%

Cardif Lux Vie’s Retail business line posted very good results in Providence, with inflows of €18 million, up by 19% on 2016. In Savings, inflows stabilised above €100 million a year, basically thanks to a unique offering in the marketplace (contract combining a wide range of unit-linked products with an attractive General Fund) and a Programmed Savings component up by 14% relative to 2016. In the context of its transformation plan, Cardif Lux Vie continues to invest in constantly reworking its offering to bring it ever more into line with its clients’ evolving expectations.

Employee Benefits: Good performance

The Employee Benefits (or Group Insurance) business line posted good results, with growth in recurring premiums in Savings (up by 2% on 2016) and continuous increases in inflows in Providence (up by 26% relative to 2016), which reached a volume of €11.5 million. Cardif Lux Vie thus proves its expertise in developing customised plans, and its leading position on the local market.

“Cardif Lux Vie had a record year in 2017, with excellent results in all its business lines, confirming its position as a major player in the Luxembourg life insurance sector, in a rapidly changing industry.

To respond to these challenges, Cardif Lux Vie continues to grow while transforming itself in order to continuously enhance the Client and Partner experience. In order to support an ambitious development of automation and digitisation during the coming months and years, substantial investments are being made in strategic programmes, including the change of our IT infrastructure.

Jacques FaveyrolThe Company is working to implement a determined policy of social and environmental responsibility aimed at having a positive impact on society (notably through our investments in the General Fund aimed at financing the real economy) and allowing us to participate in the construction of a sustainable future while at the same time ensuring performance and stability,” said Jacques Faveyrol, CEO of Cardif Lux Vie.

Key figures for the year ended 31 December 2017
279 employees  
Turnover €2.8 billion
Assets under management €22.2 billion
Profit before tax[4] €52.9 million

About Cardif Lux Vie

Cardif Lux Vie is a Luxembourg insurance company positioned among the major players in the market. Held by solid shareholders (BNP Paribas Cardif, BGL BNP Paribas and Ageas), it has the advantage of strong roots both at home and abroad.

Cardif Lux Vie meets the specific needs of customers on several complementary markets: life insurance that caters for retail clients, group insurance for businesses and international life insurance as a wealth structuring tool.

For private individuals and professionals in Luxembourg and the Greater Luxembourg Region, Cardif Lux Vie provides bancassurance networks with comprehensive high added value solutions.  For high net worth clients active internationally, the Company operates under the Free Provision of Services and has an extensive network of first-class partners (private banks, financial institutions, brokers, etc.) It proposes customised and sustainable solutions using a comprehensive range of wealth structuring tools.

[1] Net income before tax, according to Luxembourg local GAAP, giving pre-tax income of €63.5 million under group IFRS.

[2] Excluding non-recurring items.

[3] Source: ACA (Luxembourg Insurance Company Association) Report 2018.

[4] Net income before tax, according to Luxembourg local GAAP, giving pre-tax income of €63.5 million under group IFRS.

  • Launch of groundbreaking offers for companies, their employees as well as individuals
  • A new step towards sustainable fleets with the “Electric Vehicle” offer
  • Arval Luxembourg grows by 22% with over 6,000 vehicles leased

Strong organic growth in 2017

Last year the organic growth of the Arval leased fleet throughout the world increased by 7.4%, reaching another record-breaking figure of 1,103,835 vehicles. This healthy rise was mainly fueled by the core market pillars (France +5%, Spain +15% and Italy +10%) as well as double-digit growth in many other countries such as Austria (+10%), Belgium (+12%), Czech Republic (+12%), Luxembourg (+22%), Poland (+19%), Russia (+12%), Turkey (+16%), and Latam region (+13%).

During the year, Arval continued its geographical expansion with the opening of its subsidiary in Norway, which is a very advanced market from an energy transition perspective.

In 2017, Arval accelerated the enlargement and reinforcement of its added value offering, notably through the deployment of innovative digital solutions for fleet managers and drivers and enhanced integrated telematics services with Arval Active Link.

Parallel to this, Arval has strengthened its Corporate Social Responsibility commitment by allocating a one-million-euro budget to a global initiative aimed at enabling its local entities to showcase their support for road safety (trainings, events) and ease charities’ mobility (car donations).

Philippe Bismut, Arval CEO, comments: “2017 was another great year of success and encouraging achievements. Our track record demonstrates the relevance of our strategy, as well as the quality and commitment of our teams. We are now announcing the launch of groundbreaking offers, which will contribute to the transformation of the market and accelerate the broadening of our global offering. We are becoming more and more engaged in making user friendly and greener solutions also available to our clients’ employees and individuals”.

Strong growth for Arval in Luxembourg in 2017

Arval Luxembourg recorded stable growth of 22% in its fleet in 2017, bringing the number of leased vehicles to more than 6,000. This result is well above the general trend in the Luxembourg company car market.

In 2017 Arval Luxembourg was named a “Great Place to Work 2017” on its first nomination. This award rewards the high-quality working conditions it offers its employees.

According to Gerry Wagner, General Manager of Arval Luxembourg, “our strong progress in 2017 is built on two pillars: providing a service close-at-hand, guaranteed by our entire Luxembourg-based team, and our employees’ expertise in delivering personalised advice adapted to the changes in the current market. Our biggest success is obtaining an extremely high satisfaction rate from our customers. This is down to our high-quality day-to-day service linked to regular surveys that detect any problems and resolve them quickly.

2018 will be devoted to extending our service to drivers, with the launch of our application My Arval Mobile and consolidating our collaboration with BGL BNP Paribas”.

Launch of new groundbreaking offers

More than ever committed to fulfill its pioneering mission, Arval announces the launch of five innovative offers:

  • “Arval For Me”: Via this digital solution, Arval gives individuals access to its know-how, added value services and network. It is made of a full, extensive and unique range of services such as maintenance and repair (bodywork, tyres, windscreens, etc.) associated to mobility services (relief car, pick-up and drop, tow truck). This new offer will be progressively launched in Italy, Spain, the UK, and France. Over time, the objective is to make it available in all markets across the world.

 

  • “Arval Car Sharing” allows employees getting a car for a pre-reserved period of time. The Arval Car Sharing solution is a web and mobile platform through which they can search, book, open and close the vehicle in three taps. This integrated offer is based on Arval’s infrastructure and telematics (Arval Active Link). Simple, accessible and traceable, it represents a win-win solution for both companies and employees. Having already been launched in Italy, it will progressively be deployed throughout Europe.

 

  • “Arval For Employee” is designed for Arval client’s employees. It covers different possibilities: salary exchange, car leasing solutions, leaver offers, car sharing and the access to Arval’s trusted network for maintenance and repair. This offer will allow Arval’s clients to reinforce their attractiveness and employer brand. Tailored on a country basis to perfectly suit each market, it will be launched in France, the UK, Spain, Italy, Germany, Belgium and the Netherlands.

 

  • “My Arval” is a full digital suite that Arval provides to its customers and drivers. My Arval for customers is a web portal dedicated to fleet managers with reporting tools to manage the vehicles and a peer-to-peer exchange platform named My Arval Community. My Arval for drivers is a mobile application that helps drivers in their daily usage of their cars.

Having already been made available in respectively 23 and 19 countries, this range of digital services will be progressively deployed in all markets.

In order to support its clients in their energy transition strategy, Arval has decided to boost the development of its Electric Vehicle offering:

  • “Electric Vehicle”: Thanks to its new partnership with Renault, Nissan and NewMotion, Arval’s Electric Vehicle offer is now able to cover the whole Electric Vehicle ecosystem including home and workplace installation, integrated payment solutions and Electric Vehicle digital services (booking, consumption tracking and charging point location). This Electric Vehicle offer is flexible and modular. Based on attractive pricing, it also comprises trial periods and additional services, including a petrol/diesel vehicle replacement option for short periods such as holidays. It will be available in 2018, starting in France, followed by the UK, Belgium, Norway, and the Netherlands (with another 9 countries from the second quarter of 2018).

Philippe Bismut, Arval CEO, concludes: “Our strong expertise, unique range of added value services, and the positive market trends give us great confidence that we will continue to significantly grow in our main segments and geographical areas in 2018. In fast evolving environments, our clients’ needs evolve permanently. I strongly believe that these new groundbreaking offers, based on our digital know-how, will help our clients take up their challenges and make a sustainable decisive contribution to the green transformation of our sector”.