Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Banking

French bank Credit Agricole to buy 50% of GAC’s leasing unit

Published by Uma Rajagopal

Posted on October 16, 2024

Featured image for article about Banking

PARIS (Reuters) -Credit Agricole is planning to buy a 50% stake in the leasing unit of Chinese carmaker Guangzhou Automobile Group (GAC) as part of a broader deal that makes the French bank a partner of GAC to finance its car sales in Europe.

The group is exploring the manufacture of EVs in Europe to avoid EU tariffs, the general manager of its international business said on Sunday, joining a growing list of Chinese companies planning local production.

Statistics published on Tuesday by market research firm Rho Motion showed that global sales of fully electric and plug-in hybrid vehicles rose by an annual 30.5% in September, as China surpassed its record numbers recorded in August.

Present in 18 countries in Europe, CA Auto Bank notably offers traditional credit, leasing and stock financing.