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Kolkata-headquartered Allahabad Bank on Monday (February 16) inked an accord with two-wheeler maker Suzuki Motorcycle India for financing of Suzuki two-wheelers. Allahabad Bank will provide loans to two-wheeler buyers at discounted rates under the 'AllBank Mobike' scheme. Informing about the agreement with Suzuki, Allahabad Bank chairman and managing director K.R. Kamath said that the deal will generate massive scope for the bank in the area of financing of motorcycles.
He also said that joining hands with Suzuki will increase the retail credit portfolio and client base of Allahabad Bank. Allahabad Bank is one of the leading public sector lenders of the country having 2165 branches all over India. The Allahabad Bank happens to be one of the oldest joint stock banks in India that initiated operations way back in 1865.
Suzuki Motorcycle India is the Indian subsidiary of Japan-based Suzuki Motor Corporation. The company is focused on manufacturing two wheelers best suited for Indian consumers covering all segments. Suzuki's manufacturing plant in Gurgaon (Haryana) has a capacity of producing 1,75,000 units annually. By signing an agreement with Allahabad Bank, the two-wheeler maker will able to reach its customers more efficiently.
