RCI Bank and Services : update on operations and the impact of Covid-19
02 April 2020
RCI Bank and Services : update on operations and the impact of
Mindful of the health and safety of its employees, RCI Bank and Services is closely monitoring the coronavirus (COVID-19) situation and strictly applying all the measures recommended by the World Health Organization and the local health authorities in countries where it operates.
As such, the company has minimized the risks of COVID-19 propagation and exposure for employees while ensuring business continuity by implementing measures including:
Mandatory teleworking effective immediately for 96% of employees in the group across the 27 countries impacted
The identification of vulnerable employees to ensure reinforced protection and attention
The identification of people working in critical functions to strengthen the resources at their disposal and assure an effective back up in order to ensure their activity
The postponement of non-urgent training
The organization of internal meetings using collaborative IT tools, such as Skype, Teams, and video calls
The reinforcement of disinfection and cleaning measures on the company premises
To monitor business continuity daily, RCI Bank and Services has activated all its country crisis units, which are compliant with the internal rules and the local government measures. These local crisis units report on their decisions and transmit on a daily basis the necessary information to the central decision-making crisis unit, which has been meeting regularly since 25 February.
The COVID-19 pandemic is still ongoing, and the duration of this crisis remains uncertain. The currently fast-moving changes do not allow the company to appraise the subsequent financial impact so far. The outbreak of COVID-19 will have a negative impact to varying degrees in different geographic areas.
RCI Bank and Services is fully mobilized, in particular through a comprehensive crisis management system, in order to protect the health of its employees, in close relationship with public authorities. The company looks to preserve its assets and its ability to operate, to adapt to changes in the situation, and anticipate, by appropriate measures, the return to a more normative context for its personnel, its activities and commercial demand.
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About RCI Banque S.A.
Created and wholly owned by Groupe Renault, RCI Banque S.A. is a French bank specializing in automotive financing and services for the customers and dealership networks of Groupe Renault (Renault, Dacia, Alpine, Renault Samsung Motors and Lada) worldwide, the Nissan group (Nissan, Infiniti and Datsun) mainly in Europe, Brazil, Argentina and South Korea and through joint ventures in Russia and India, and Mitsubishi Motors in the Netherlands.
RCI Bank and Services has been the new commercial identity of RCI Banque S.A. since February 2016.
With 3,700 employees in 36 countries, RCI Bank and Services financed over 1.8 million contracts (for new and used vehicles) in 2019 and sold more than 5.1 million services.
At end-December 2019, average performing assets stood at €47.4 billion in financing and pre-tax income at €1.327 billion.
RCI Bank and Services has rolled out a deposits collection business in five countries since 2012. At end-December 2019, net collected deposits totaled €17.7 billion, or 35% of the company's net assets.
Find out more about RCI Bank and Services: www.rcibs.com
Follow us on Twitter: @RCIBS