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Volkswagen’s financial services undergoing reorganization

by Uma Rajagopal
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2023 03 01T192804Z 1 LYNXMPEJ201V8 RTROPTP 4 VOLKSWAGEN EMISSIONS

FRANKFURT (Reuters) – Volkswagen is reorganizing its financial services holding companies, Volkswagen Bank and Volkswagen Financial Services said on Wednesday.

“By bundling its activities in a European financial services provider, the refinancing strength of Volkswagen Bank GmbH can best be used for the growth of the leasing business in Germany and Europe,” they said.

 

(Reporting by Tom Sims and Alexander Huebner; Editing by Chris Reese)