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