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Daimler inks MoU with Karnataka Bank to finance BharatBenz vehicles

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Daimler India Commercial Vehicles (DICV), a 100 percent owned subsidiary of Daimler AG – signed a Memorandum of Understanding (MoU) with Karnataka Bank to provide retail financing option for its customers

The MoU will help the commercial vehicle maker to provide tailor made financing packages to customers across India for its BharatBenz trucks and buses.

With this new finance MoU, BharatBenz customers can access more than 740 branches of Karnataka Bank across the country.

Erich Nesselhauf, MD & CEO, Daimler India Commercial VehiclesErich Nesselhauf, Managing Director and CEO, Daimler India Commercial Vehicles, said.  “This new partnership with Karnataka Bank supports our BharatBenz brand’s growing presence in urban and rural India and will help us to address the promising segment of small and medium-sized enterprises.”

Endorsing this, Karnataka Bank’s MD &CEO P Jayarama Bhat, said, “This collaboration with DICV is another proactive step initiated by the bank to extend finance to clients in segments such as MSME.”

In addition to DICV’s own captive financing brand, BharatBenz Financial, Karnataka Bank becomes a key financing partner for BharatBenz products along with others adding substantial choice and value for customers.

Also Read : Daimler India Commercial Vehicles eyes strong 2017 with new products

Related Article : BharatBenz makes 2016 successful year, enters 2017 with big dreams

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Backed by over 10 years experience with India’s top media house “The New Indian Express”, Anitha is interested in writing all aspects of automobile industry. Her qualification MSc (Industrial-Psychology) helps her to deeply analyse the auto manufacturing industry.

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