Dutch car lease firm LeasePlan, which is owned by Volkswagen and two Middle East state funds, has launched its own internet savings bank.

LeasePlan has had a banking licence since the beginning of the 1990s, and was one of the first companies to ask for help through the government’s loan guarantee scheme.
‘We will be very prudent… and only invest in activities which we have 45 years-worth of experience in, namely car lease contracts,’ said CFO Guus Stoelinga in a statement. ‘An advantage to LeasePlan is that we can use the savings market resources to expand our financial base.’