Great Place to Work

Archive 2016

date

 
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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Braunschweig,
October 31, 2016

Volkswagen Financial Services well on course after nine months

Volkswagen Financial Services remain on growth course after the third quarter of 2016. New contract acquisitions worldwide increased by 13.7 percent to around 5.66 million. The overall level of current contracts also showed a significant rise of 10.3 percent compared to the same period last year and reached a figure of more than 17.85 million at the end of September.

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Braunschweig,
October 13, 2016

Volkswagen Financial Services successfully placed leasing receivables

Volkswagen Financial Services have successfully placed their 24th Auto Asset-Backed Securities (ABS) transaction to securitise leasing contracts, VCL 24. The Volume of the transaction amounts to around EUR 1.25 billion. The VCL 24 transaction was placed in a bookbuilding process. The Class A Notes were priced at 1-month Euribor plus 25 basis points, and the Class B Notes were priced at plus 65 basis points. The order books were oversubscribed 2.5 times (Class A) and 3.5 times (Class B) at placement pricing levels. 

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Braunschweig,
October 7, 2016

Volkswagen Financial Services again placed bond in ruble

Volkswagen Bank RUS LLC, a subsidiary of Volkswagen Financial Services AG, has placed a bond in rubles (RUB) on the Russian capital market with a volume of RUB five billion (around EUR 71 million) for the second time this year. The transaction is part of the local issuance programme of Volkswagen Bank RUS LLC totalling 100 billion rubles. The rating agency Standard & Poor's assesses the credit quality of the bond with the grade "BB+" at the level of the Russian Federation.

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Braunschweig, 4 August 2016,
August 4, 2016

Volkswagen Financial Services report successful first half-year 2016

Volkswagen Financial Services have successfully completed the first half-year of 2016 with an operating result of EUR 995 million (previous year: EUR 970 million; plus 2.6 percent). New contract acquisitions worldwide increased by 14.4 percent to almost 3.8 million. The overall level of current contracts also showed a significant rise of 9.5 percent compared to the same period last year and reached a figure of almost 17.4 million at the end of June.

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Braunschweig,
July 29, 2016

Volkswagen Financial Services AG again with a sovereign performance in the bank stress test

Volkswagen Financial Services AG has once again successfully passed the bank stress test coordinated by the European Banking Authority (EBA). On the basis of the 2015 Annual Financial Statements, a baseline and an adverse scenario were simulated for the years 2016 to 2018 and the capital ratios were calculated under the given preconditions.

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Braunschweig/Beiing,
July 8, 2016

Volkswagen Financial Services securitise Chinese auto loans

Volkswagen Financial Services have successfully placed their fourth Chinese Auto Asset-Backed Securities (ABS) transaction. The securitisation transaction Driver China four, which is backed by vehicle financing contracts from Volkswagen Finance China, has a volume of around three billion renminbi (RMB), or approximately 405 million euros.

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Braunschweig,
July 5, 2016

Volkswagen Financial Services placed bond in ruble

Volkswagen Bank RUS LLC, a subsidiary of Volkswagen Financial Services AG, has placed a bond in rubles (RUB) on the Russian capital market with a volume of RUB 5 billion (around EUR 70 million). The transaction is part of the local issuance programme of Volkswagen Bank RUS LLC totalling 50 billion rubles. The rating agencies Fitch and Standard & Poor's assess the credit quality of the bond with the grade "BBB+" and "BB+" respectively and thus above and at the level of the Russian Federation. The term of the bond is five years and a repayment option after two and a half year is a structural element of the transaction.

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Braunschweig/Peking,
May 13, 2016

Volkswagen Financial Services issue debut bond in renminbi

Volkswagen Financial Services have issued a bond in renminbi (RMB) for the first time and fully placed it with Chinese investors. The volume of the security issued by Volkswagen Finance (China) Co., Ltd. amounts to approximately 270 million euros.

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Braunschweig,
May 3, 2016

Volkswagen Financial Services reports strong contract growth in first quarter 2016

Volkswagen Financial Services were able to increase their new contract acquisitions worldwide in the first quarter of 2016 by 12.4 percent to almost 1.8 million. The overall level of current contracts also showed a significant rise of 8.7 percent compared to the same period last year and reached a figure of almost 16.9 million at the end of March.

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Braunschweig,
April 8, 2016

Volkswagen Financial Services successfully placed Auto ABS

Volkswagen Financial Services have successfully placed their 23rd Auto Asset-Backed Securities (ABS) transaction to securitise leasing contracts, VCL 23, on the market with a volume of around EUR 750 million. In comparison to the previous year, the proportion of auto ABS transactions in the refinancing mix of Volkswagen Financial Services has increased during the 2015 financial year. With a volume of nearly EUR 26 billion (previous year: EUR 21 billion), Auto ABS transactions contributed more than 16% (previous year: 15%) towards the refinancing of Volkswagen Financial Services.

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Braunschweig/Frankfurt am Main,
March 15, 2016

Volkswagen Financial Services: best-ever operating result

Volkswagen Financial Services have again grown substantially during the 2015 financial year. At this year's annual press conference, the Chairman of the Board of Management of Volkswagen Financial Services AG, Lars Henner Santelmann reported: "2015 was both an eventful and an outstanding financial year for Volkswagen Financial Services. With a figure of 1.9 billion euros, we achieved the best operating result ever."

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Braunschweig,
March 7, 2016

Volkswagen Financial Services placed Australian Auto-ABS

During the last year, Volkswagen Financial Services AG was able to record a significant increase in contracts to 5.88 million as a result of its worldwide activities (2014: 5.64 million). "We are very satisfied with the development overall. Our broad spectrum of products ranging from traditional vehicle financing over vehicle leasing to offers in the field of services and insurance has supported this solid development," said Lars Henner Santelmann, Chairman of the Board of Management of Volkswagen Financial Services AG.

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Braunschweig,
February 11, 2016

Volkswagen Financial Services AG record a solid portfolio growth worldwide in 2015

During the last year, Volkswagen Financial Services AG was able to record a significant increase in contracts to 5.88 million as a result of its worldwide activities (2014: 5.64 million). "We are very satisfied with the development overall. Our broad spectrum of products ranging from traditional vehicle financing over vehicle leasing to offers in the field of services and insurance has supported this solid development," said Lars Henner Santelmann, Chairman of the Board of Management of Volkswagen Financial Services AG.

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Braunschweig,
February 10, 2016

Volkswagen Financial Services placed Japanese Auto-ABS

Volkswagen Financial Services have today successfully placed their fifth Japanese auto Asset-Backed Securities (ABS) transaction. The securitisation transaction Driver Japan five, which is securitised with receivables of Volkswagen Financial Services Japan Ltd., has a volume of around 64 billion Japanese Yen (JPY), this corresponds to about Euro 494 million. The senior tranche was priced at 30 basis points over base rate. Driver Japan five is therefore the largest Auto ABS transaction ever in Japan. The order books were oversubscribed 2.1 times for the Senior Tranche notes at placement pricing levels.

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Braunschweig,
February 3, 2016

Volkswagen Financial Services marketed Spanish Auto ABS transaction

Volkswagen Financial Services have today placed the Auto ABS (Asset-Backed Securities) transaction Driver España three with a volume of around EUR 1.0 billion. Driver España three is therefore the largest Spanish Auto ABS transaction to be carried out since the outbreak of the financial crisis.

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Braunschweig,
February 2, 2016

Volkswagen Financial Services record a solid increase in contracts in Germany during 2015

Volkswagen Financial Services have ended the 2015 financial year with a significant increase in new contracts (new and used cars) in their leasing and financing business on the German market. The number of new contracts added to the portfolio in this segment exceeded the one million mark for the first time with a figure of 1.01 million contracts (2014: 981,000), which represents a rise of around three percent. The figure includes 301,000 new contracts for used vehicles (2014: 268,000), a plus of 12.3 percent.

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Braunschweig,
January 12, 2016

Volkswagen Financial Services securitise Chinese auto loans for the third time

Volkswagen Financial Services have sold Chinese Auto ABS (Asset-Backed Securities) to investors for the third time. The securitisation transaction Driver China three, which is backed by vehicle financing contracts from Volkswagen Finance China, has a volume of around three billion renminbi (RMB), or approximately 419 million euros. In a volatile market environment the order books were fully covered during the bookbuilding process, with orders placed by both, Chinese and international investors; tranche A was placed at a fixed interest rate of 3.30% and tranche B at 5.10%. The order books were oversubscribed 2.41 times for the Class A notes and 2.10 times for the Class B notes at placement pricing levels. This makes Driver China three the Auto ABS transaction with the lowest pricing in China ever.

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