Significant market position and wide geographic diversification across Europe; Independent operational risk management from and limited financial exposure to shareholder Renault S.A. (BBB/Positive/A-2); Satisfactory profitability, underpinned by tight cost control; Asset quality under control and expected to further improve in the years ahead. Concentration of activity on car-finance and related services Wholesale-funded liquidity profile, partly offset by conservative asset-liability management; A capital position that remains moderate in light of risk profile; and Potential pressure on margins in case of rapidly rising interest rates. The ratings on RCI Banque are based on the following: The bank's average business profile, which balances the concentration of its activity on car-financing and related operations, with solid market position and wide geographic diversification; and Its
