Fiat Chrysler's finance unit FCA Bank said on Friday (19 February) it had booked an "unprecedented EUR249.1m net profit for the year to 31 December, 2015 on the back of record financed volumes".
Profit before tax for the year rose 40% to EUR359.4m and that net profit was up 36% year on year after the loan portfolio grew to to EUR17.2bn from EUR15.3bn at the end of 2014.
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The increase in new car registrations and FCA Bank's growing support to the parent automaker (with a commercial penetration of 47%, up 4% on 2014) resulted in total financed volumes of EUR9.6bn, up 25% on 2014.
"FCA Bank has been one of the enablers of the improved commercial performance of the automotive manufacturer," it said in a statement.
"Yearly results benefited from the excellent commercial performance in Italy and in the rest of Europe and from the further diversification of the funding sources, by leveraging our full banking license granted in 2015" said CEO and general manager , Giacomo Carelli.
New financed volumes in 2015 amounted to EUR9.6bn including long-term rental activities.
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By GlobalDataThe average outstanding portfolio for the period also grew to EUR16.1bn, up 9%.
