Volkswagen’s financial services undergoing reorganization


FRANKFURT (Reuters) – Volkswagen is reorganizing its financial services holding companies, Volkswagen Bank and Volkswagen Financial Services said on Wednesday.
FRANKFURT (Reuters) – Volkswagen is reorganizing its financial services holding companies, Volkswagen Bank and Volkswagen Financial Services said on Wednesday.
“By bundling its activities in a European financial services provider, the refinancing strength of Volkswagen Bank GmbH can best be used for the growth of the leasing business in Germany and Europe,” they said.
(Reporting by Tom Sims and Alexander Huebner; Editing by Chris Reese)
Volkswagen Bank is a financial institution that provides banking services, primarily focusing on financing for vehicles and related products associated with the Volkswagen Group.
Financial services encompass a broad range of services provided by the finance industry, including banking, investment, insurance, and asset management.
Restructuring refers to the process of reorganizing a company's structure, operations, or finances to improve efficiency, reduce costs, or respond to changing market conditions.
A leasing business provides financing options for customers to use assets, such as vehicles or equipment, for a specified period in exchange for regular payments.
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