Fullerton India forays into commercial vehicle finance business
Sets up 33 exclusive branches across the country to service commercial vehicle customers.
By ET Online |
New Delhi: Fullerton India Credit Company Ltd, one of India’s leading non-banking financial companies, has announced its foray into commercial vehicle finance business. Fullerton already has successful operations in personal finance, two-wheeler finance, finance to micro, small and medium enterprises and microfinance.
It has set up 33 exclusive branches across the country through which it services commercial vehicle customers in over 50 cities. Fullerton India is hopeful of disbursing in excess of Rs1000 crore in the coming financial year in this business.
Fullerton India takes great pride in being a customer-oriented organization following the highest standards in corporate governance and equipped with state-of-art technology, to service customers in all its branch locations. Fullerton India’s key strengths in relationship based lending coupled with a large network of branches makes it very effective in servicing customer needs in the local markets.
In the CV financing business, it addresses the needs of first time CV buyers to state road transport crganisations & large fleet operators. Its follows an unique approach in the CV business and manages customer relationships directly without any intermediaries. Relationship officers of Fullerton deal directly with end customers. For the convenience of first time buyers, it also offers longer tenure of loan - up to 5 years.
Ruben Mora, president & CEO of Fullerton India Credit Company Ltd, said, “Our experience in the retail consumer finance space has been a motivating factor in our expansion plans into the commercial vehicle business. Given the current buoyancy in the economy, there is a large potential in this market. We intend to steadily grow in volume as growth in this market continues to be robust. We estimate that we can grow easily to 5 to 7% share of the market.”
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