BNP Paribas & Arval Vehicle Leasing reveal 2020 results

Jean-Laurent Bonnafé (pictured above), chief executive officer, explained: “In 2020 and still today, our main concerns are helping our clients cope with the effects of the pandemic and safeguarding our employees’ health. Our teams have adjusted nimbly throughout the year; the bank has mobilised all of its resources to help our clients weather this crisis and lay the foundation for a solid and sustainable economic recovery.”

Looking to BNP Paribas’ equipment leasing firm – BNP Paribas Leasing Solutions – it’s loan outstandings rose by 1.9% compared to 2019.

In comparison, the Group’s loans outstanding jumped by €33 billion, marking a rise of 4.4% from 2019. However, international financial services revenues fell by 7.2%.

For the Group’s automotive leasing subsidiary, Arval, it achieved 1,381.555 leased vehicles in 2020, marking a 6.4% growth on 2019’s figures. This accompanied a 4.6% growth of its UK market during the same period.

Arval provides a range of full-service vehicle leasing and sustainable mobility solutions, and currently employs around 7,200 staff in 30 countries across the globe. The firm’s corporate financed fleet reached one million vehicles in 2020, and its retail business grew by 15.7%, including 100,000 vehicles on private lease.

Sustainable challenges

According to the company, since March 2020 more than 99% of its employees have been able to work from home safely thanks to the company’s “robust IT infrastructure”. This enabled Arval to continue operations and focus on the provision of flexibility in contractual terms and contract extensions for its 300,000 customers.

Arval also took 2020 as an opportunity to strengthen its corporate social responsibility (CSR) strategy, responding to environmental issues by establishing a series of goals for 2025 including 500,000 EVs leased and an average reduction of 30% in CO2 emissions for its entire fleet.

Alain van Groenendael (pictured above), chairman and chief executive officer of Arval, explained: “Arval is even stronger today and is leading the market in terms of performance, with a pioneering spirit and our ambitious CSR commitments.”

The company also stated it is “actively addressing the diversity issues” by establishing the Arval Women in Action career program which aims to develop women’s talents to increase the number of women in senior leadership positions.

Groenendael added: “I am very confident about the year ahead; we have numerous projects and initiatives planned. The investments we make today will strengthen our vision through 2021 and the years to come, and we expect to exceed 2020’s performance in terms of fleet growth this year.”

Lastly, Arval revealed a new strategic plan for 2021 named Arval Beyond which focuses on four key areas for the company: mobility, technology, industry partnerships, and sustainability.

Amongst other targets, Arval Beyond is hoped to renew and increase the number of that were forged with players around the globe in 2020. The focus of these partnerships (which included the likes of SIXT) were to strengthen Arval’s digital customer experience and expand the range of products and services with shared, connected and electrified mobility solutions.

Bonnafé concluded: “BNP Paribas has been highly resilient, thanks to its diversified business model, financial solidity, digital and industrial transformation, and its platforms’ execution capabilities. On the strength of these advantages, we are well positioned to enter a new phase in the development of our activities.”