PSA Bank

PSA Bank Finance RUS LLC is owned by the French automotive group PSA Peugeot Citron. The Bank issues loans to individuals for the purchase of Peugeot and Citroen cars (retail business), credits dealers of these brands of cars (corporate sector). In Russia, the bank has been operating since 2010 together with Peugeot, Citroen and DS brands. PSA Bank Finance RUS LLC under the Peugeot Finance and Citroen Financial Services programs provides offers in the Russian car loan market. PSA Bank services are available at all official Peugeot and Citroen dealerships in Russia. License No. 3481.

History

2021: Bank license cancellation

On February 18, 2021, the Central Bank of the Russian Federation announced the cancellation of a bank license from PSA Finance RUS LLC, which is controlled by the PSA group (until 2016, PSA Peugeot Citroen). This bank occupied 296th place in the banking system of the Russian Federation.

According to the regulator, the basis for the cancellation of the license was a petition from a credit institution sent to the Bank of Russia in connection with the decision of the general meeting of participants on its voluntary liquidation. The bank will appoint a liquidation commission.

According to the reporting data submitted to the Bank of Russia, the credit institution has sufficient property to satisfy the claims of creditors, the Central Bank said.

Central Bank revoked license from PSA Finance RUS Bank

The main owner of PSA Finance Rus is Banque PSA Finance, which is one of the largest French banks. The bank is not a member of the deposit insurance system. He worked in the Russian market for about 13 years.

The main activity of PSA Finance Rus Bank was lending to individuals and entrepreneurs for the purchase of Peugeot and Citroen cars. The bank also financed car dealers in Russia.

The chairman of the board of PSA Finance Rus was Elena Degtyareva, who previously held senior positions at BNP Paribas Bank CJSC, where she also took part in the creation of the new Setelem business line. Elena Degtyareva worked at PSA Finance Rus for about 10 years.

On the day when it was announced the cancellation of PSA Finance Rus LLC, the rating agency Expert RA reported that up to 33 Russian credit organizations in 2021 risked losing their license. Experts associated the risks of default COVID-19 with the economy unrecoverable after the pandemic of coronavirus, as well as the outflow of funds from Russians from deposits.^[1]

2019: Nicolas Derusso - Chairman of the Management Board of PSA Bank Finance Rus

PSA Bank Finance Rus announced on February 4, 2019 to TAdviser the appointment of Nicolas Desrousseaux, who has been working in the PSA group for almost 23 years . More details here.

2017

Launch of leasing company PSA Finance

In addition to the line of credit products, in May 2017, PSA Bank launched a new leasing company PSA Finance (Peugeot Citroen Leasing LLC) in Russia.

"We feel the need of our customers for our services, so we are developing and continuing to expand the range of services - in 2017, the PSA group brands launched several bright car premieres in Russia and we are doing everything possible to support the launch of new models and their sales. Our main task is to give customers the opportunity to get a car on the most profitable and transparent conditions, and positive feedback confirms that we are moving in the right direction, "commented Andrew Norton, Director of the Business Development Department of PSA Bank Finance RUS LLC.

Moving to a new office in Moscow

Since April 24, 2017 the office of PSA Bank (LLC Bank PSA Finance RUS) is located at the new address: 105120, Moscow, 2nd Syromyatnichesky Lane, 1, 7 the floor, business center "Delta Plaza".

Delta Plaza

The range of bank services remains the same - PSA Bank offers special credit programs for the entire range of PEUGEOT, CITROYON and DS brands in Russia, and also offers Peugeot CASCO and Citroyon CASCO partner insurance programs from insurance companies PJSC SK "Rosgosstrakh" and SAO O O.

"The new office has become spacious and more comfortable, and it is now fast and convenient to get to it - The business center is a 5-minute walk from the Kurskaya metro station. We will be pleased to see our partners in the new office building, "said Andrew Norton, Business Development Director, PSA Bank.

Office mode: Monday-Friday from 9.00 to 18.00 without interruption.

2016

Renaming PSA Bank and new logo

In July 2016, PSA Bank introduced a new logo and branding as part of PSA's Push to Pass plan.

The Push to Pass plan opened a new page in the history of the Group. The plan not only sets strategic objectives and sets targets, but is also the first step towards the implementation of the Group's new concept, based on two fundamental principles: a world automaker with high efficiency production and the best provider of services for movement, with which the client remains forever.

So, as part of the Push to Pass plan, the Bank received a new corporate style and a shortened name - PSA Bank. The new style uses elements of the heritage of the Group, whose history dates back more than two hundred years.

The new logo is its own development - it was created by the designers of Peugeot Design Lab, a design studio with extensive experience in automotive design, as well as providing services to companies from other industries.

According to Jean-Pierre Plouet, Director of Style:

"The new logo, strict and elegant, symbolizes the company's desire for new horizons; this style accompanies the evolution of the Group and the expansion of its scope, including through digital services. The deep blue color is inspired by the historical heritage of the company. "

New loan range and new insurance programs

Since April 2016, PSA Bank has launched a new range of loans - a low-rate loan, with a minimum down payment or a loan with a minimum monthly payment. Also, since December 2016, together with credit products, it is possible to use the special programs Peugeot CASCO and Citron CASCO from insurance companies PJSC SK Rosgosstrakh and SAO VSK for buyers of new cars.

2015: ISO 9001:2015 Certification

On December 2, 2015, the press service of PSA Bank Finance RUS LLC announced the completion of certification under the international standard ISO 9001-2015.

According to the results of audit of JSC "Bureau Veritas Certification Rus," LLC "Bank PSA  Finance RUS" successfully passed certification according to the international standard ISO 9001-2015.

Certification according to the international standard ISO 9001-2015 positions PSA Bank Finance RUS LLC in 4th position in the ranking of Russian banks that received a certificate of this model (as of December 2, 2015, six companies in Russia, according to the company, are certified according to  the ISO 9001-2015 standard).

PSA Bank Finance RUS was the first of the PSA Peugeot Citroen group to receive a certificate according to the standard, which entered into force in October 2015.

ISO 9001 is an international standard assigned by ISO (ISO - International Organization for Standardization) to companies with best practices in planning and monitoring activities. The version of the standard was published on September 22, 2015.

ISO 9001-2015 certification is a proof of the quality of the bank's products and services, the compliance of services with the requirements (legal and regulatory), the adequacy of services to the needs of the market and customers.

Since 2015, the bank also offered to take advantage of a profitable loan offer with an overpayment of 0% on Peugeot 408 and Citroon C4 Sedan.

2010: Start of activity in Russia

PSA Bank Finance RUS LLC (PSA Bank, PSA Bank) has been operating since 2010. Since 2010, the Bank began lending to individuals for the purchase of Peugeot and Citroon cars as part of the Peugeot Finance and Citroon Financial Services program in all lounges of official Peugeot and Citroon car dealers. As part of these programs, customers were offered special reduced interest rates for the entire lineup.

On June 23, 2010, the first car loan for a Peugeot car from PSA Bank was issued. The first loan was issued in Moscow at the Envy-Motors dealership for the Peugeot 308.

"The most welcome gift was the purchase of a car. Most of all, I and all other members of my family liked Peugeot 308. A comfortable interior and memorable appearance is a real dream. And LLC Bank PSA Finance RUS helped come true to this dream. Thanks to the opportunity to take the car on credit, we were able to make the most desirable gift, which has been pleasing me and my whole family for seven years, "Alexander's first client shared her impressions