Ashok Leyland ties-up with ICICI Bank for vehicle finance
Published On Nov 26, 2019
The Chennai based truck maker signed up leading financial institute, ICICI Bank as a preferred finance partner to offer customized finance deals to customers buying its vehicles with a clear focus on semi-urban and rural geographies
Ashok Leyland, the second heavy-truck makers in India with their complete range of BS6 ready vehicles, signed a Memorandum of Understanding (MoU), with ICICI Bank to enter into a strategic financing partnership for two years. This MoU will enable both Ashok Leyland and 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 the customers buying Ashok Leyland vehicles. The Bank will work in close coordination with the authorized dealers of Ashok Leyland to offer financial solutions to the customers.
Customers can take advantage of the preferred product and financial solutions from both companies. The new partnership aims to effectively leverage the combined strengths of Ashok Leyland’s products and ICICI Bank’s significant distribution reach in India.
Speaking on the partnership, Anuj Kathuria, Chief Operating Officer, Ashok Leyland said, “Ashok Leyland is delighted to partner with ICICI Bank to offer customised financial solutions to its customers. 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 offers our customers the 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, thereby living by its brand promise of ‘Aapki Jeet. Hamari Jeet.”
Ravi Narayanan, Head - Secured Assets, ICICI Bank, said, “We are delighted to join hands with Ashok Leyland to become their preferred financier. In order to give more impetus to the commercial vehicle sector, we bring forth customised, technology-led and 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.”