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November 17, 2017updated 21 Nov 2017 4:01pm

BNP Paribas sees solid growth in Arval and Leasing Solutions

BNP Paribas has seen solid growth in its Leasing Solutions and Arval subsidiaries for the third quarter of 2017.

By Lorenzo Migliorato

BNP Paribas has seen solid growth in its Leasing Solutions and Arval subsidiaries for the third quarter of 2017.

Vehicle leasing division Arval enjoyed a 7.9% year-on-year growth in the volumes of financed vehicles, to 1m vehicles, and a 12% growth in outstandings, which amounted to €15.7bn (£14bn).

Leasing Solutions, meanwhile, saw a 5.7% growth in outstandings, to €17.8bn.

The division of the group which includes Arval and Leasing Solutions, among others, saw revenues go up 3.6% to €692m.

Operating expenses also grew in size, +9.1% to €400m. The digitalisation of underwriting and contract support at Arval and Leasing Solutions was cited as having contributed towards the higher costs.

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