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Business EconomyPosted at: Feb 18 2016 4:32PM


Daimler inks pact with TMB for BharatBenz trucks and buses financing

Chennai, Feb 18 (UNI) Auto major Daimler India Commercial Vehicles
Private Limited (DICV), a wholly-owned subsidiary of Daimler AG, today
signed a Memorandum of Understanding (MoU) with the Tamilnad
Mercantile Bank (TMB) to provide tailor-made financing packages to
customers across the country for modern BharatBenz trucks and buses.
A DICV release here said the agreement was signed by Bank MD and
CEO H S Upendra Kamath and Mr Arghadip Roy, Deputy General Manager
and National Head- Retail and Channel Finance, DICV.
Commenting on the partnership, Mr. Erich Nesselhauf, Managing Director
and CEO, Daimler India Commercial Vehicles said "this is another important
step to further strengthen the BharatBenz brand’s presence in Southern India.''
''Tamilnad Mercantile Bank has a strong footprint where our dealers and
customers are located in the region, with over 80 per cent of TMB’s branches
situated in semi-urban and rural areas. This makes TMB a perfect partner to
support our dealers with fast and easy processes, as well as to provide our
customers with competitive, tailor-made financing solutions for their new
BharatBenz products'', the release said.
Speaking on the occasion, Mr Kamath said ''we have strong presence in
Tamil Nadu. Our wide distribution network will help in reaching out to the
semi-urban and rural areas of the state. This symbiotic relationship will help
to leverage ours and DICV’s strengths, thus opening up new avenues and
allowing for a collaborative association.''
UNI GV VV AK 1630
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Tags: #Daimler inks pact with TMB for BharatBenz trucks and buses financing
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