La banque d'un monde qui change 2004 - BNP Paribas

4647INTERNATIONAL RETAIL BANKING AND FINANCIAL SERVICEScetelemThe Cetelem group’s new lending advanced14% in 2004, to EUR 22.7 billion.Its contribution to BNP Paribas net incomebefore tax was up 14.5%.These results have made 2004 Cetelem’sstrongest year since BNP Paribas was established.• In France, where Cetelem is the leader inits market, new lending rose 11% in 2004,to EUR 10.8 billion.Growth was driven by strong performancesin the key distribution channels. Againsta backdrop of weak growth in the consumerfinance sector, new lending granted throughretail partners and car dealerships increased6% and 2% respectively.Investment in developing Web offerings alsoprompted a fourfold increase in new lendinggranted online in 2004. This channel nowaccounts for 10% of Cetelem’s Direct business(excluding point-of-sale financing).Lastly, in 2004 Cetelem took over themanagement of permanent credit cardaccounts granted by BNP Paribas, and expandedits range of offerings throughout theBNP Paribas network, boosting distributionof the Aurore card. Revenue generationfrom both Aurore cards and Provisio revolvingloans significantly exceeded expectations.Cetelem implements a groundbreakingadvertising strategy in France:(Re-)Building trust in consumer creditSo that consumer finance can play its rightful roleas a driver of economic growth in France, Cetelemwants to rebuild trust in this business. Such was thepurpose of the new advertising campaign launched inSeptember 2004, targeting all consumers and specificallyyoung working consumers, a key audience for thedevelopment of consumer credit. The campaignfeatured three key cornerstones:• a strategic choice to talk about credit, not about buying;• a new by-line: “Vous donner confiance dans le crédit”(Giving you reasons to place your trust in credit);• creating a character that symbolises Cetelem’sconsumer credit business – its offer, its client relations,its brand values.The outcome: 84% of French viewers foundthe campaign convincing.Cetelem and the Saint-Gobain groupcreate a joint financing subsidiaryCetelem has been a partner of the Saint-Gobaingroup since 1989, through sales agreementswith its Lapeyre and, in part, K par K banners.This partnership will reach a new levelwith the creation in 2005 of a financing jointventure that will offer consumer creditin the Saint-Gobain group’s retail networks(Lapeyre, K par K and Point P) as well asdirectly to individual clients.