Bangalore, 31st August, 2023: Ashok Leyland, the Indian flagship of the Hinduja Group and country’s leading commercial vehicle manufacturer, signed a Memorandum of Understanding (MoU), with CSB Bank Ltd. to enter into a strategic vehicle financing partnership for its customers. This MoU will enable both Ashok Leyland and CSB Bank to offer customized financial solutions to them.
Under this partnership, CSB Bank will be able to provide end to end financial solutions to the customers of Ashok Leyland. The Bank will work towards satisfying the customers’ needs through vehicle loans with easy monthly repayment plans best suited for customers. Moreover, the bank will leverage technology for enhancing customer experience.
Commenting on the partnership, Mr. Gopal Mahadevan, CFO & Director Ashok Leyland, said, “With the combined strength of CSB Bank , Ashok Leyland, and it’s dealers will now have financing solutions to suit customer needs. At Ashok Leyland, it is our continuous endeavour to enhance the experience of our customers and add more value to them The partnership with CSB Bank will benefit customers with financial products, which are specifically tailored for a hassle-free experience. Through our vast network of dealerships, we will be able to provide the best financial solutions to our wide range of commercial vehicle customers”.
Speaking on the partnership, Mr. Narendra Dixit, Group Head and Head Retail Banking, CSB Bank said, “We are delighted to partner with one of the largest commercial vehicle manufacturers in India, Ashok Leyland. With a pan-India presence, the partnership will offer customized offerings to the customers across India including deep geographies. This partnership will enable the bank to grow its portfolio of assets and extend its reach into previously untapped consumer segments. I am sure our shared dedication will pave the way for continued advancement and triumph of the commercial vehicle sector”.
The collaboration seeks to provide simpler financing options, a seamless customer experience, and timely assistance to customers. The Sales & Marketing teams of CSB Bank and Ashok Leyland will work together to develop joint marketing and financing programs for mutually furthering the volumes of business.