Significant market position and wide geographic diversification across Europe Independent operational risk management from and limited financial exposure to shareholder Renault S.A. Satisfactory profitability, underpinned by tight cost control Sound asset quality Concentration of activity on car financing and related services Wholesale-funded liquidity profile, partially offset by conservative asset-liability management Potential pressure on margins in case of rapidly rising interest rates The ratings on French car-financing company RCI Banque reflect its: Average business profile, which balances the concentration of activity on car financing and related operations with a solid market position and wide geographic diversification; and Adequate financial position, including satisfactory profitability and asset quality, adequate capitalization, and wholesale-funded liquidity profile. The ratings also factor in the bank's full ownership
