On November 6, 2013, The Renault-Nissan Alliance officially received the agreement from the Russian Central Bank to create RN Bank, a joint venture between Renault-Nissan (60 %) and the Italian Unicredit Group (40%).
RN Bank started retail operations with several Renault and Nissan pilot dealers in Russia. It provides financial products and services to customers and dealers to facilitate the purchase and use of vehicles of the Renault-Nissan Alliance brands in Russia (Renault, Nissan and Infiniti).
By September 2014, RN Bank will be present in more than 70 cities and 350 dealerships in Russia, providing loans and financial services under the Nissan Finance, Renault Credit, and Infiniti Finance marketing programs.
The establishment of a RN Bank is aimed at further strengthening the Alliance’s competitive positioning in the Russian car market which is forecast to continue to grow rapidly over the next decade.
Mr. Bruno Kintzinger, director of RCI Banque activities in the Eurasia region and General Manager of the Russian subsidiary of RCI Banque ("RN Finance Rus"), has been appointed Chairman of the board of RN bank, headquartered in Moscow.