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.

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.