Renault Nissan Alliance along with UniCredit will come together to form an automotive bank offering financial assistance to customers and dealers of Renault, Nissan and Infiniti. The Renault Nissan Alliance will hold a 60% stake in the company while 40% will be held by UniCredit.
This financial assistance will enable the company to strengthen their position in Russian markets where rapid growth over the next 10 years is predicted. During past year, the company saw sales to the tune of 2.9 million units. In Russia, Renault sales during 2012 touched 189,852 units while sales of Nissan reached the 153,747 mark. Infiniti sales in 2012 stood at 9,209 units.
UniCredit has been existent in Russian markets ever since 1989. In the country, UniCredit operates through a fully owned subsidiary. The company hopes to augment its retail banking facilities in the country of Russia while this joint venture with Renault Nissan Alliance is expected to be in force till end of 2013.