Arval, the vehicle leasing company owned by
French bank BNP Paribas, grew the size of its leased fleet by 10
percent last year – well ahead of the 1 percent average growth rate
in the market.
Arval, which has operations in 22 countries,
said its vehicle fleet increased to 667,500 by the end of December
2010. The company said it remains the second-biggest vehicle
leasing company in Europe by market share.
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“After 2009, in which Arval enabled its
customers to limit the impact of the financial crisis on their
vehicle budget, 2010 was a year of upturn for us both in terms of
activities and performance,” said Arval CEO Philippe Bismut.
The positive figures from Arval come ahead of
its takeover of Commerz, the vehicle leasing arm of the Commerz
Real group, which is due to be completed in May. The deal,
announced in December 2010 will expand Arval’s vehicle portfolio in
Germany by more than 50 percent to 36,000.
Arval was founded in 1989 and has more than
4,000 employees.
nick.huber@vrlfinancialnews.com
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