Mercedes-Benz Bank this year celebrates its 30th anniversary and, with record figures from the previous fiscal year, is off to a flying start. Benefiting from Daimler’s unit sales of vehicles, the captive can point to strong growth in Germany: as at the end of 2016, the volume of new business had risen by 11 percent to 11.9 billion euros and 368,000 vehicles in comparison with the year before. The portfolio of contracts grew by 10 percent to 21.8 billion euros. There was growth across every segment: leasing and financing was up by 11 percent for cars and by 9 percent for commercial vehicles. With regard to both corporate and private customers, there was a plus of 11 percent on the books.
Franz Reiner, CEO of Mercedes-Benz Bank: “Our growth shows that we as a mobility bank have the right products in the marketplace. Our direct banking business with private customers has also developed very positively, with the volume of deposits rising by 11 percent to 11.5 billion euros. We anticipate further strong growth rates for the current year.” Over half of all Daimler cars, trucks, vans and buses on German roads are on a contract from Mercedes-Benz Bank.
The global financial services business of the parent company Daimler Financial Services AG is also booming: as at the end of 2016, over 4.3 million financed or leased vehicles worth 133 billion euros were on the books – this corresponds to a 14 percent year-on-year increase in the volume of contracts. The EBIT was up 7 percent to set a new record of 1.7 billion euros, to which Mercedes-Benz Bank made a significant contribution. The working atmosphere is also great: Mercedes-Benz Bank was named “Best Employer” in Germany in 2016 in a study by the independent Great Place to Work institute. Daimler Financial Services was ranked in fifth place among the world’s best employers.
Source: Mercedes-Benz Bank