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.
“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.