March 19, 2018 / 12:34 PM / 4 months ago

Volkswagen's finance arm faces 100-million-euro residual value risk: CFO

FRANKFURT (Reuters) - Volkswagen’s (VOWG_p.DE) Financial Services arm on Monday said it faced a risk from declining residual values on German diesel-engined cars of around 100 million euros ($123.23 million), the division said.

VW Financial Services said it is targeting 2018 operating profit on a par with last year’s record result of 2.46 billion euros, its finance chief said on Monday.

The division said it is planning to increase its portfolio of credit, leasing and insurance contracts to 30 million by 2025 from 19.7 million at present.

($1 = 0.8121 euros)

Reporting by Andreas Framke. Writing by Andreas Cremer.

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