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Press Releases

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Braunschweig,
March 24, 2017

Personnel changes at Volkswagen Financial Services as a result of corporate realignment

The realignment under company law at Volkswagen Financial Services (VWFS), which was initiated last year, will result in several personnel changes. The regulatory approvals for the realignment measures are in part still pending. As part of the restructuring, the plan is to bundle the credit and deposit business within the European Economic Area in Volkswagen Bank GmbH. This company will then become a 100% subsidiary of Volkswagen AG. All other activities will remain with Volkswagen Financial Services AG. A new company, Volkswagen Financial Services Digital Solutions GmbH, will in future develop and provide services for its parent companies Volkswagen Bank GmbH and Volkswagen Financial Services AG. The mobility services of Volkswagen Financial Services AG will be bundled in the new "Mobility Unit" business section. 

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Braunschweig/ Frankfurt am Main,
March 23, 2017

Volkswagen Financial Services achieve their best-ever result

Volkswagen Financial Services have brought the 2016 financial year to a successful conclusion and achieved new record levels in both their operating result and their volume of current contracts. "The 2016 financial year was challenging for Volkswagen Financial Services, but nevertheless very successful. Volkswagen Financial Services have achieved their best-ever operating result and secured their future growth with a strategic realignment," says Lars Henner Santelmann, the Chairman of the Board of Management of Volkswagen Financial Services AG.  

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Braunschweig,
March 1, 2017

Volkswagen Financial Services AG issues borrower's note loans totalling around EUR 900 million

Volkswagen Financial Services AG has successfully issued a series of borrower's note loans with a total volume of around EUR 900 million (cross-currency). Within the scope of the transaction, maturities of three, five and seven years were placed in euros and US dollars, with more than 500 million in US dollars. The interest margins of all tranches were fixed at the lower end of the respective marketing range.

 

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Braunschweig,
February 10, 2017

Volkswagen Financial Services securitise Japanese auto loans

Volkswagen Financial Services have successfully placed their sixth Japanese auto Asset-Backed Securities (ABS) transaction today. The securitisation transaction Driver Japan six, which is securitised with receivables of Volkswagen Financial Services Japan Ltd., has a volume of around 60 billion Japanese Yen (JPY), this corresponds to about Euro 500 million. 

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Braunschweig/Vancouver,
December 28, 2016

Volkswagen Financial Services purchases world's largest provider of parking payment services PayByPhone

Volkswagen Financial Services AG has acquired PayByPhone, the world's leading provider of cashless payment systems for parking, from PayPoint plc on 23 December 2016. PayByPhone is based in Vancouver, Canada and also operates in the USA, France, Great Britain, Switzerland and Australia.

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Braunschweig,
December 2, 2016

Volkswagen Financial Services report a successful year 2016

Volkswagen Financial Services have continued to grow during the 2016 financial year and the company will once again be making a substantial contribution to the Volkswagen Group earnings. The operating result will exceed the two billion euro mark for the first time (previous year: EUR 1.92 billion). On the basis of the preliminary figures, the overall level of current contracts is expected to rise by 9.2 percent to reach more than 18.12 million (2015: 16.59 million). "We have continued our successful growth course of the past few years during the challenging 2016 financial year as well," says Lars Henner Santelmann, CEO of Volkswagen Financial Services AG.

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Braunschweig,
November 23, 2016

Volkswagen Financial Services placed Auto ABS in China

Volkswagen Financial Services have successfully placed their fifth and to date largest Chinese Auto Asset-Backed Securities (ABS) transaction. The securitisation transaction, Driver China five, which is backed by vehicle financing contracts from Volkswagen Finance China, has a volume of around four billion renminbi (RMB), or approximately 547 million euros. This is the third ABS transaction issued by Volkswagen Financial Services in China this year alone. 

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Braunschweig,
November 1, 2016

Volkswagen Financial Services secure their growth path with a new organisational set-up

Volkswagen Financial Services AG has initiated a corporate restructuring. The Supervisory Board has approved its implementation today. The plan is to bundle the credit and deposit business within the European Economic Area (EEA) in Volkswagen Bank GmbH, which will then become a wholly owned subsidiary of Volkswagen AG. All other activities will remain with Volkswagen Financial Services AG, which is also a direct subsidiary of Volkswagen AG. Through a new company, Volkswagen Financial Services Digital Solutions GmbH, selected and innovative services will be developed and provided to its parent companies Volkswagen Bank GmbH and Volkswagen Financial Services AG. The new structure is still subject to approval by the Supervisory Board of Volkswagen AG.

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