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Wednesday, September 12, 2012

Oriental Bank to offer finance for Piaggio vehicles

Oriental Bank of Commerce (OBC) has signed a preferred financier agreement with Piaggio Vehicles Pvt Ltd, a manufacturer of small commercial vehicles.

Under this tie-up, Piaggio Vehicles customers will be able to avail themselves of vehicle finance services from any of the 1,827 branches of the bank.

The memorandum of understanding was signed by Atul Gautam, General Manager, OBC, and Praveen Nagpal, Vice President, Piaggio Vehicles.

Speaking on the occasion, Gautam said that the bank is expanding its operations in commercial vehicle financing. The bank has now come up with attractive schemes for financing commercial vehicles in terms of interest rates and margin norms for prospective buyers of Piaggio vehicles.

Nagpal said that the tie-up would be mutually beneficial. By mapping their dealership with the bank’s branches, they will accelerate the sales of their vehicle as well as route their customers to the bank for availing finance.


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