Daimler India Commercial Vehicles (DICV), the wholly-owned Indian subsidiary of Daimler AG, signed a Memorandum of Understanding with Karnataka Bank to provide tailor made financing packages to customers across the nation for modern BharatBenz trucks and buses. With this new partnership, BharatBenz customers can access Karnataka Bank’s national footprint of more than 740 branches.
Mr. Erich 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.”
Mr.P. Jayarama Bhat, Managing Director & CEO of Karnataka Bank added: “This collaboration with DICV is another proactive step initiated by the bank to extend finance to clients in segments such as MSME (micro, small and medium enterprises) to purchase commercial vehicles. Our wide distribution network will help in reaching out to the urban and rural areas of the state.”
The Karnataka Bank Limited is a major scheduled bank based in the coastal city of Mangaluru in Karnataka, India, with more than 740 branches pan-India and over 7600 employees.
Apart from Daimler’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.