UAH 1 billion for customers’ car dreams of granted by Credit Agricole Ukraine during 5 months of 2020
In May, Credit Agricole Bank crossed UAH 1 billion’s mark in its car loan portfolio. Over five months of 2020 year, the bank has demonstrated such result of loans volume as in the same period of the previous year. Credit Agricole Bank is holding its leadership position in car lending in Ukraine with a market share of 40% among banks.
“Quarantine restrictions contributed to the decreasing of demand for new cars. While in March sales dropped by 10% compared to February, the decrease in April reached 42%. Recovery of the market was observed in May due to resumption of dealership centers’ operation, deliveries of new cars to Ukraine, gradual quarantine lifting, and adaptation of market players to the new conditions. Over these months, our key partners have kept their positions in car sales pattern, and they form a major part of our car loan portfolio. Therefore, this year, we have financed our first billion during almost the same period as in the previous year – five months. The Bank maintains its position of a leader on the car lending market. This suggests that car users choose Credit Agricole as №1, and our business model and quality of service yield good results,” commented Roman Bunich, Head of Long and Alternative Channels Development Department.
During the quarantine, Credit Agricole supports customers with existing car loans. It carries out restructuring and offers CASCO tariffs laying off to reduce the pressure on their budgets. Moreover, formalization of collateralized CASCO is now available remotely – customer just needs to send scanned copies of documents to the bank.
“Together with insurance companies, we offer “antivirus” tariffs for collateralized CASCO to our customers,” continued Roman Bunich. “In general, lockdown revealed that a car is a necessity, and customers who have hesitated over a choice or postponed a purchase, seriously considered to get a loan. We expect the demand for budget models and used cars, which we finance as well, to increase in the short run. So we are working actively on the new loan programs and improvement of lending process.”
The bank’s results for 5 months of 2020 prove yet again that Credit Agricole is a #1 bank in car loans market! More than 60 000 car users in Ukraine chose Credit Agricole Bank to make their car dreams come true.
The bank offers high-quality product, transparent lending terms and quick service to car users.