LeasePlan has launched an online savings bank
for individuals and businesses in order to grow its capital base,
the Dutch lessor announced.
The internet savings bank – called LeasePlan
Bank – offers “attractive and transparent” savings rates for
customers, the fleet company said. Rates are pinned to EURIBOR plus
a fixed premium, set at 2.1 percent for 2010, giving savers a
launch rate of 2.53 percent.
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Savers benefit in addition from monthly paid
interest and free transfers to other accounts.
LeasePlan said it had started the bank in
order to broaden its funding base. The company fulfils much of its
funding requirements through the international capital markets, and
has an annual funding requirement of €3.5 billion, and total assets
of €17 billion.
Customer savings will, in future, make up part
of LeasePlan’s annual funding, the lessor said.
Guus Stoelinga, CFO of LeasePlan, commented:
“We are proud that we can offer our business and private savers a
fair and transparent savings product. We are very prudent in
handling the funds provided to us and we only invest in the
business in which we have over 45 years of experience, namely auto
leases.
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By GlobalData“An advantage for LeasePlan is that by raising
funds from the savings market we can further broaden our funding
base.”
LeasePlan has held a banking licence in the Netherlands since
1993.
