BNP Paribas in China News & Press
  • Press Contact

    Jackie Wang
    China Brand & Communications
    Tel:+86 (21)2896 2888
    Please note that our press office is only available for media enquiries. For general contact details, please see our contact page.
December 19, 2014 -

BNP Paribas Personal Finance expands its presence in South Africa

Forward to a friendForward to a friend PrintPrint

RCS, the 100% owned South African subsidiary of BNP Paribas Personal Finance has concluded agreements with JD Group and its parent company Steinhoff in order to acquire its consumer finance activities in Southern Africa and to enter into a long-term commercial relationship with JD Group.

BNP Paribas Personal Finance, the European leader in Consumer Finance, has had a long standing partnership with Steinhoff in Europe. It wishes to build upon this partnership to enter into a strategic alliance with Steinhoff in South Africa. Through this alliance, JD Group, an important South African retailer, 86% owned by Steinhoff, will sell to RCS its consumer finance activities. Concurrently, Steinhoff will acquire a 30% shareholding in RCS, BNP Paribas Personal Finance’s fully-owned subsidiary in Southern Africa.

Read more