Chennai, April 19, 2024: South Indian Bank has signed an MoU (Memorandum of Understanding) with Ashok Leyland Limited for financing their dealers under the Bank’s dealer finance program. Under this partnership, the Bank will provide unmatched dealer finance options to the dealers of Ashok Leyland Limited.
With this tie-up, South Indian Bank aims to help the dealer partners of Ashok Leyland Limited, streamline vehicle inventory funding. This arrangement is mutually beneficial for the vehicle manufacturer, their dealers, and for South Indian Bank.
Speaking on the alliance, Ms. Biji S S, Senior General Manager & Group Business Head, South Indian Bank said, “We are extremely happy to partner with Ashok Leyland Limited. Through our varied financial solutions, our goal is to offer convenient and complete financing choices to the dealers. We believe that this partnership will meet the business needs of both organizations and create a strong positive impact.”
Speaking on the partnership, Mr. Gopal Mahadevan, Director and Chief Financial Officer, Ashok Leyland Limited said, “We are pleased to partner with South Indian Bank. This alliance will offer appropriate inventory financing solutions to our network of dealers. We, Ashok Leyland and South Indian Bank, are committed to provide exceptional customer experiences.”
The MoU was signed in the presence of Ms. Biji S S, Senior General Manager & Group Business Head, South Indian Bank, Mr. Praveen Joy, Head-Transaction Banking Group, South Indian Bank, Mr. Bala Naga Anjaneyalu, Regional Head – Chennai, South Indian Bank, Ms. Karthika S, Zonal Sales Head - Corporate Business Group (Chennai), South Indian Bank, Mr. C. Neelakantan, Head-Treasury, Ashok Leyland, Mr. Madhusudhan D S, Head, Sales Finance, Ashok Leyland, and Mr. Saket Kumar, Head – Strategy, Ashok Leyland.
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