First Citizen Finance raises €235m in securitisation to support car financing

“We are delighted with the quantity and quality of investors who supported this transaction and the keen pricing we secured,” he said.

Mr Hanlon confirmed that the proceeds will be used to support the company’s lending programme for motor finance, which comprises the largest share of its business, along with other product lines. Employing almost 100 people, First Citizen Finance has a loan book that stands at just under €700 million, made up of more than 30,000 loans.

“Car sales are ahead about 20 per cent on last year. Last year wasn’t a great year, nor was the year before, but there’s €150 billion in savings currently deposited in the Irish banks,” he said.

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