Business

Ashok Leyland, ICICI Bank ink MoU for vehicle financing

Lender to be preferred financier for CV maker’s customers

Commercial vehicle manufacturer Ashok Leyland Ltd. (ALL) has entered into a two-year memorandum of understanding (MoU) with ICICI Bank to offer customised financial solutions to customers across India with a focus on semi-urban and rural geographies. With this MoU, ICICI Bank will be a preferred financier for providing finance to customers buying ALLAshok Leyland vehicles. The bank will work in close coordination with the authorised dealers of Ashok Leyland to provide financial solutions to the customers, said the company in a statement.

“With a pan-India presence, both organisations can leverage their strengths for the mutual benefit of the customers. Ashok Leyland products come with differentiated technology that offer our customers best-in-class total cost of ownership, thereby providing profitability to their business. Ashok Leyland has embraced future-ready technology to offer digital platforms and services that are ahead of the curve,” said Anuj Kathuria, chief operating officer, Ashok Leyland.

“In order to give more impetus to the commercial vehicle sector, we bring forth customised, technology- led speedy credit and other financial solutions to the fleet owners of trucks and buses and assist them in the growth of their business. With this partnership, we will also offer the whole gamut of our banking products and services to the customers of Ashok Leyland and its dealers,” said Ravi Narayanan, head — secured assets, ICICI Bank.

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Printable version | Feb 19, 2020 7:33:01 PM | https://www.thehindu.com/business/ashok-leyland-icici-bank-ink-mou-for-vehicle-financing/article30079451.ece

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