Daimler Financial Services
News
With the launch of business operations in Romania, Berlin-based Daimler Financial Services AG has entered yet another growth market for financial services in Central and Eastern Europe. Under the brand name Mercedes-Benz Financial Services the company officially opened its business on September 18th, 2008 in Bucharest.
Daimler Financial Services increased its total contract volume by 4% to €60.4 billion in the second quarter of 2008. Compared with the prior year, 15 additional companies were fully consolidated for the first time, most of them in Asia and Eastern Europe. Adjusted for this effect and for exchange-rate effects, the increase was 8%. New business of €7.8 billion was 6% higher than in the second quarter
of 2007.
Daimler Financial Services increased its contract volume by 2% to €58.3 billion in the first quarter of 2008. In the first quarter of 2008, 15 subsidiaries were fully consolidated for the first time (mainly in Eastern Europe and Asia). Adjusted for these consolidation effects and for exchange-rate effects, the increase was 7%. New business of €6.7 billion was 2% below the prior-year level. After adjusting for the two aforementioned factors, there was also a decrease of 2%.
The development of Daimler Financial Services was generally stable in 2007. The financial year was affected by the separation of Chrysler’s financial services business in North America, which had become necessary due to the transfer of a majority interest in Chrysler.
International
Operating in more than 40 countries, Daimler Financial Services is the most international captive financial services provider. Daimler Financial Services has 6,500 employees and manages a contract volume of 58 billion Euro.
