Consors Finanz is a German brand of the worldwide active major bank

BNP Paribas BNP Paribas is a French international banking group, founded in 2000 from the merger between Banque Nationale de Paris (BNP, "National Bank of Paris") and Paribas, formerly known as the Banque de Paris et des Pays-Bas. The full name of the grou ...

. The focus of the business is the allocation of consumer loans, especially sales financing for retail and online trade as well as for car, caravan and motorbike dealers. Products include installment credits, card products with drawing limit and bullet loans as well as additional insurance and accessory products in co-operation with partners. Business partners are trading companies of all sizes as well as banks and insurances. The

consumer loan Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), ...

sales work via direct cooperation with trading partners which use the financing products as an instrument of

merchandising Merchandising is any practice which contributes to the sale of products to a retail consumer. At a retail in-store level, merchandising refers to displaying products that are for sale in a creative way that entices customers to purchase more i ...

Bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

s, insurances, organizations and

institution Institutions are humanly devised structures of rules and norms that shape and constrain individual behavior. All definitions of institutions generally entail that there is a level of persistence and continuity. Laws, rules, social conventions a ...

s can also handle their consumer loan business via Consors Finanz as

outsourcing Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally, i.e. in-house, and sometimes involves transferring employees and ...

partner. The business is a member of the

Association of German Banks The Association of German Banks (german: Bundesverband deutscher Banken) is the association of private banks in Germany and a key lobby group for Germany's financial sector. In the traditional 3-pillar system of the German banking industry, this r ...

History

In 2001 Cetelem S.A. acquired 70% of the former WKV Bank in Munich and founded the Cetelem Bank GmbH. The bank was a

Joint Venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

of the BNP Paribas Personal Finance S.A. (former

Cetelem Cetelem or BNP Personal Finance is a French company specializing in consumer credit, online credit and credit cards. Cetelem is the commercial brand of financing of BNP Paribas, which is a wholly owned subsidiary of BNP Paribas, and specializes in ...

S.A.) and of the

Dresdner Bank Dresdner Bank AG was a German bank and was based in Frankfurt. It was one of Germany's largest banking corporations and was acquired by competitor Commerzbank in May 2009. History 19th century The Dresdner Bank was established on 12 Novemb ...

AG. In 2005 an ownership structure of 50,1 % BNP Paribas Personal Finance S.A. and 49,9 % Dresdner Bank was agreed and the Cetelem Bank was changed to Dresdner-Cetelem Kreditbank GmbH. Through the merging of the Dresdner Bank with the Commerzbank the partnership shares were transferred to the Commerzbank AG in May 2009. In the beginning of June 2010 the Dresdner-Cetelem Kreditbank was changed to Commerz Finanz. In August 2017 BNP Paribas Personal Finance and Commerzbank separated. BNP Paribas continues the business of the Commerz Finanz as sole shareholder. With the introduction of the brand Consors Finanz the bank bundled sales financing solutions for retail and online trade as well as for car, caravan and motorbike dealers.

References

External links

Official Website Consors Finanz BNP Paribas

Consors Finanz at Federal Financial Supervisory Authority
{{Portal, Banks Banks of Germany BNP Paribas