The reasons for raising the outlook lie in the improved profit expectations for the years 2010 and 2011, the strong capitalisation, and the contribution made by the stable volume of deposits to the refinancing mix of Volkswagen Bank GmbH.
Frank Fiedler, CFO of Volkswagen Financial Services AG, the parent company of Volkswagen Bank GmbH, explains: "The decision of the rating agency shows that the positioning of Volkswagen Bank GmbH with its stable volume of deposits is strategically correct. The bank's stable financial profile has proved its effectiveness in times of crisis and is also facilitating the sustained growth of the bank."
Information for editors
Volkswagen Bank GmbH was founded in 1949 and is an operating subsidiary of Volkswagen Financial Services AG. It manages the financing business for the new and used vehicles of the authorised Volkswagen dealers. The services offered by Volkswagen Bank include individual financing and leasing concepts, mobility packages and direct banking.
Contacts:
Volkswagen Financial Services AG
Dennis Eisenhauer (Press Officer)
Tel.: + 49 5 31 / 2 12-55 41
E-mail: dennis.eisenhauer@vwfs.com
www.vwfs.de
Jens Schreiber (Rating / Capital Market)
Tel.: + 49 5 31 / 2 12-45 93
E-mail: jens.schreiber@vwfs.com
www.vwfs.de