PSA Banque's DISTINGO Passbook Savings Account a Big Hit with French Savers

Since its launch last 5 March, PSA Banque's DISTINGO online passbook savings account has gone from strength to strength. As of 30 June 2013:

• More than 14,500 DISTINGO passbook savings accounts opened in just four months.
• More than €780 million in outstandings.

This performance illustrates the success of the strategy of diversifying the sources of financing for Banque PSA Finance (BPF), a PSA Peugeot Citroën subsidiary. It also attests to the confidence of French savers in the Bank's growth prospects.

During the launch, BPF pledged to make DISTINGO an engine driving the real economy, with the deposits to be used to finance either retail purchases from Peugeot and Citroën dealerships or the dealerships' wholesale inventory.

In this regard, as of 30 June:

• 256,600 vehicles, of which 200,700 new vehicles, were purchased thanks to BPF car loans granted to Peugeot and Citroën customers.
• 590,000 vehicles were financed thanks to BPF inventory financing granted to Peugeot and Citroën dealers.

Philippe Alexandre, Chief Executive Officer of Banque PSA Finance, said:
"DISTINGO's good results confirm our ability to diversify BPF's sources of financing and demonstrate the confidence of French savers in BPF and PSA Peugeot Citroën. They also celebrate our historic roots in the real economy, since all of the Bank's funds are used to support the sale of automobiles by Peugeot and Citroën dealers. In this way, they add real credibility to BPF's involvement in the consumer savings market under the PSA Banque brand. We will therefore be resolutely ambitious in developing this new brand."

Since the passbook's launch, deposits have been encouraged by three successive marketing campaigns, backed by competitive terms and conditions.

In addition, a time deposit account may be introduced in 2014