DICV inks Mou with Karur Vysya Bank for customer financing

Daimler India Commercial Vehicles  has signed a Memorandum of Understanding (MoU) with Karur Vysya Bank (KVB), one of the leading private sector banks in Tamil Nadu, to provide commercial vehicle financing packages to customers across the country.

Apart from Daimler’s own captive financing brand, BharatBenz Financial, KVB becomes a key financing partner for BharatBenz along with others adding substantial choice and value for customers.

The agreement was signed by M. Balachandran, general manager and Group Head – Commercial Banking Group of KVB and Arghadip Roy, assistant general manager and national head (retail and channel finance), DICV and T D Jayakar – senior manager (retail and channel finance), DICV.

Announcing the tie-up, Erich Nesselhauf, CEO and MD of DICV, said: “Having chosen KVB as a partner in financing BharatBenz trucks is the next step in moving towards and expanding our business. This alliance allows us to intensify our presence in vital commercial vehicle markets in Andhra Pradesh, Telangana and Tamil Nadu such as Namakkal, Thiruchenkode and Sankagiri by offering attractive financial support. Our customers can be assured of competitive financing solutions with tailor-made offerings for our BharatBenz trucks.”

M Balachandran, general manager of KVB Bank, added, “This collaboration between KVB and DICV will provide customers easy and seamless financing solutions. We have a wide distribution network with 612 branches with 454 present in the States of Tamil Nadu, Andhra Pradesh and Telangana, thus opening up new avenues for both partners of this relationship.”