Ford of Europe applies for German banking license

Ford of Europe stated it has obtained a German banking license in case the automaker’s British bank is no longer enabled to offer services on a pan-European basis after Britain leaves the European Union.

“The reason that Ford Credit Europe has submitted an application for a German banking license is to guarantee it has the ability to supply continuous support for Ford dealerships and customers post-Brexit,” a company spokesman stated on Friday.

The license application was initially reported by the Frankfurter Allgemeine Zeitung paper on Thursday.