Karnataka Bank signs MoU with Daimler India for vehicle financing

Karnataka Bank signs MoU with Daimler India for vehicle financing

Mangalore Today News Network

Mangaluru, Feb 20, 2017: Karnataka Bank has entered into a Memorandum of Understanding (MoU) with M/s Daimler India Commercial Vehicles Pvt. Ltd (DICV) for extending finance facilities to customers to purchase commercial vehicles manufactured by the Company.

DICV is one of the leading manufacturing Companies of commercial vehicles in India with a Pan-India presence. Bharat Benz is the Indian truck brand of Daimler AG, the world’s largest Commercial Vehicle manufacturer and inventor of the truck.

The MoU is signed today at Bank’s Head Office at Mangaluru. M/s DICV has nominated Karnataka Bank as preferred financier for extending finance to purchase of commercial vehicles manufactured by the Company.

Shri. P Jayarama Bhat Managing Director and CEO of the Bank,  Shri Mahabaleshwara M.S., Chief General Manager, Shri. Raghurama, General Manager and Executives from Credit Department were present. The Company was represented by Shri, Arghadip Roy, Deputy General Manager, National Head Retail & Channel Finance and his team.

Shri. P Jayarama Bhat Managing Director and CEO of the Bank has informed that “this MoU is one more proactive step initiated by the Bank to extend finance to clients to purchase commercial vehicles manufactured by the DICV, targeting MSME clients”.