Core Viewpoint - RCI Banque has received an updated binding MREL requirement from the Single Resolution Board (SRB), which is now set at 13.50% of total risk exposure amount (TREA) and 4.63% of leverage ratio exposure (LRE), reflecting an increase from previous requirements of 10.01% and 3.00% respectively [2][3]. Group 1: MREL Requirement - The new MREL requirement is defined on an individual basis and is applicable to RCI Banque, which has not exercised its "right to be heard" regarding the decision [3]. - RCI Banque currently complies with the updated MREL requirement, which will be subject to ongoing review [4]. Group 2: Financial Overview - As of June 2025, Mobilize Financial Services, a subsidiary of Renault Group, financed over 633,000 contracts and achieved pre-tax earnings of 607 million euros, with average earning assets amounting to 58.9 billion euros [7]. - The company has also established a deposit-taking business, with net deposits reaching 30.5 billion euros, representing 49% of its net assets by the end of June 2025 [8].

Core Points - The Board of Directors of RCI Banque S.A. has appointed Patrick Claude as the new Chairman of the Board, succeeding Gianluca De Ficchy [1][2] - The appointment is subject to approval by the European Central Bank and takes effect immediately [2] - Patrick Claude has a strong background in finance, having held various positions at Rothschild and Barclays, and has been with RCI Banque since 1996 [2][3] Company Background - RCI Banque S.A. is a French bank specializing in automotive financing and services, primarily for the Renault Group, as well as Nissan and Mitsubishi in several countries [5] - Mobilize Financial Services, a subsidiary of Renault Group, operates under RCI Banque and focuses on creating innovative financial services for sustainable mobility [5] - As of June 2025, Mobilize Financial Services had average earning assets of €58.9 billion and pre-tax income of €607 million [5] Leadership Experience - Patrick Claude has been a board member and part of the Risk Committee since September 2021, and a member of the Accounts and Audit Committee since February 2023 [4] - Prior to his appointment as Chairman, he served as VP of Group Financial Services at Renault and held multiple senior roles within RCI Banque from 2014 to 2021 [3][4]

Core Insights - Mobilize Financial Services Group has successfully placed a securitization of 739.3 million euros backed by French auto leases with a purchase option [2] - The securitization includes 700 million euros of Senior notes and 39.3 million euros of subordinated notes, rated AAA(sf) / AAA(sf) and A+(sf) / AA(sf) respectively by Fitch and S&P [2][3] - The Senior tranche has a weighted average life of 2.01 years with a coupon of Euribor 1 month + 56bps, while the subordinated notes have a weighted average life of 3.58 years with a coupon of Euribor 1 month + 90bps [3] Company Overview - Mobilize Financial Services is a subsidiary of Renault Group, focusing on innovative financial services to promote sustainable mobility [5] - The company operates in 35 countries with nearly 4,000 employees and financed over 633,000 contracts for new and used vehicles by the end of June 2025 [6] - As of June 2025, Mobilize Financial Services reported average earning assets of 58.9 billion euros and pre-tax earnings of 607 million euros [6] Financial Position - The company has developed a deposit-taking business since 2012, with net deposits reaching 30.5 billion euros, representing 49% of its net assets by the end of June 2025 [7]

Core Points - Xavier Derot has been appointed as Deputy CEO of Mobilize Financial Services, effective July 1, 2025, pending approval from the European Central Bank [2][3] - The appointment aims to strengthen the governance of Mobilize Financial Services [3] Company Overview - Mobilize Financial Services is a subsidiary of Renault Group, focusing on innovative financial services to promote sustainable mobility [7] - The company has been operational for over 100 years and is the commercial brand of RCI Banque SA, specializing in automotive financing and services for Renault, Nissan, and Mitsubishi [7] Financial Performance - In 2023, Mobilize Financial Services financed over 1.2 million contracts for new and used vehicles and sold 3.7 million service contracts [8] - As of December 2024, the average earning assets were €61 billion, with pre-tax earnings of €1,194 million [8] - The company had net deposits of €30.5 billion, representing 50% of its net assets by the end of December 2024 [9]