German automobile manufacturer Opel has forayed into online consumer banking business in a bid to diversify its refinancing base.
The Germany-based GM subsidiary said that a push into online consumer banking will add more potential customers to its existing 200,000 client base, who use its in-house bank for car loans or leasing deals.
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Depending on the performance in Germany, the company may also expand the consumer banking operation to other European markets.
Opel re-launched the automotive lending and financing operations in April 2013 after its financing arm GM Financial Company re-purchased international automotive lending operations, which it had sold during the 2008-2009 financial crisis.
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By GlobalData
