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RCI Bank attracts 60,000 new customers and over £2billion in retail savings
20 February 2017
RCI Bank attracts 60,000 new customers and over £2billion in retail savings

The award-winning* savings provider, RCI Bank, has received over £2.1billion of deposits from UK savers since launching in June 2015. In well under two years, the savings bank has gained 60,000 new customers who are benefitting from its customer-friendly range of savings accounts - including its best buy Freedom Easy Access account and its three Fixed Term savings accounts – and backed up by 7 day UK service.

 

Commenting on the results, Jean-Louis Labauge, CEO of RCI Bank UK, said: “When we launched there was £160billion** sitting in savings accounts paying 0.5% interest or lower. We set out to be a real alternative to traditional banking for UK savers who didn’t want to have to choose between competitive rates and great service.

 

“And today, our strong growth - in the UK and globally - shows the positive impact that RCI Bank has already had on the UK savings market and we’ve only just started. 2017 has started well, with three rate increases for new and existing easy access customers, as we look to put customers first and offer accounts that fit in with their individual savings goals, aspirations and lifestyles.”

 

RCI Bank is part of Renault’s global banking group, RCI Bank and Services, who announced its 2016 annual results earlier this week.

 

The results indicated another record year with strong growth globally, with retail savings deposits across the group totalling over €12.6bn, up €2.4bn from 2015. These helped to fund almost 1,564,000 new loans worth over €17.9 billion, up 14.9% over the full year 2016 – a new record for the group.

 

Income-generating assets increased by 16.3% to €33.3 billion, the highest level ever achieved, with pre-tax income of €912 million for 2016, an increase of 8.1% from last year.

 

RCI Bank and Services continues to invest in innovative experiences for its customers, which led to the acquisition of Karhoo, the start-up which developed the first taxi price comparison platform and a minority stake in Bulb Software, an inventive start-up specialising in management of company vehicles.

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