Business Services Industry
Volkswagen banking services in the UK
Credit Management, Mar 1998
Volkswagen Financial Services (UK) Ltd (VWFS), plans to introduce motorrelated banking products and services in the UK market to its customers and dealers. "It is only a matter of time before VW FS will enter the UK banking market", says Chairman, Peter Schneider. "Volkswagen already has an established banking operation based in Braunschweig, Germany and by using its European-Banking Pass, Volksagen Bank GmbH aims to expand its operations into other EU countries".
The plan for the UK is to offer (during late 1998) a wide range of motor-related banking products such as loans, and deposit and other schemes.
VWFS commenced trading in the UK in 1994, and is the company's largest subsidiary outside Germany, with assets in excess of lbn. Based in Milton Keynes it has 200 employees and provides motor related financial services to over 200,000 customers and over 800 dealers using instalment finance, leasing, stocking, service and maintenance products.
For further information telephone 01908 456000.
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