Toyota Kirloskar Motor Pvt. Ltd has signed a Memorandum of Understanding with the UCO Bank to extend auto retail finance to their prospective customers. UCO Bank will be one of the preferred financiers for the entire range of vehicles sold by Toyota Kirloskar Motor Private Limited. The MOU was signed by Mr. S K Dey Purkayastha, General Manager, Retail Banking & Corporate Communication from UCO Bank and Mr. Sailesh Shetty, General Manager (Sales) from Toyota Kirloskar Motor.
The bank will become a preferred financier of Toyota Kirloskar Motor cars and will offer financing facilities to eligible customers. Mr. Arun Kaul, Chairman and Managing Director,UCO Bank said, "This tie-up will give us a platform from where different products of our bank can be marketed to the prospective buyers of Toyota Cars throughout the country. Thus, the bank’s retail portfolio as well as customer base can be increased." Under the agreement, both Toyota Kirloskar Motor dealers and the Bank branches will source Toyota Car loan business using their customer database.
