Daimler India Commercial Vehicles signs MoU with Tamilnad Mercantile Bank

Daimler India Commercial Vehicles Pvt. Ltd. (DICV), a wholly-owned subsidiary of Daimler AG, signed a Memorandum of Understanding with Tamilnad Mercantile Bank (TMB) to provide tailor-made financing packages to customers across the country for modern BharatBenz trucks and buses.

The agreement was signed by  H.S Upendra Kamath, MD & CEO of Tamilnad Mercantile Bank and  Arghadip Roy, Deputy General Manager and National Head- Retail and Channel Finance, DICV and Prabudass Ealumalai, Senior Manager, Retail Finance South, DICV.

Commenting on the partnership, 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% 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.”

"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." added Kamath of Tamilnad Mercantile Bank.

Source: DICV