Bloomberg News

Daimler’s Mercedes Bank Seeks More Deposits, Automobilwoche Says

April 15, 2012

Daimler AG (DAI)’s Mercedes-Benz Bank is seeking to increase deposits by about one third as the carmaker plans to boost sales by a similar amount, Automobilwoche reported, citing the lender’s board chairman, Franz Reiner.

The financial unit is targeting deposits in the medium term of 40 billion euros ($52 billion), compared with the current level of 31 billion euros, Reiner told the Oberpfaffenhofen, Germany-based newspaper. Mercedes-Benz seeks to boost car sales to 1.6 million units from about 1.2 million, according to the publication.

To contact the reporter on this story: Alex Webb in Munich via awebb25@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net


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