Suzuki Motorcycle India Private Limited, the two-wheeler subsidiary of Suzuki Motor Corporation, Japan today entered into an MoU withSMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) to provide quick and hassle-free financing on purchase of Suzuki two-wheelers. SMFG India Credit is registered as an NBFC – Investment and Credit Company (NBFC-ICC) with the Reserve Bank of India, and a member of Sumitomo Mitsui Financial Group (SMFG).
The partnership will allow customers to avail retail financing options round-the-clock on purchase of their favorite Suzuki two-wheeler. The MoU will also provide additional benefits to the customers, such as vehicle loan sanction within minutes and hassle-free documentation.
Commenting on the partnership, Mr. Kenichi Umeda, Managing Director, Suzuki Motorcycle India Pvt. Ltd. said, “Considering our continuous growth in the Indian market, it becomes imperative for us to associate with financiers who can facilitate ease of purchasing Suzuki Two Wheelers. The idea is to offer flexible, yet easy retail finance offers, keeping in mind the needs of our customers. We are confident that our engagement with SMFG India Credit will be another step in enhancing our ability to cater to the needs of our growing customer base in India and thereby support our growth plans.”
As part of this association, customers can get faster approval with nominal documentation, at a competitive interest rate. To add to this convenience, SMFG India Credit offers easy scheme options, digital login, 24*7 operational support and pre-approved offers.
Ajay Pareek, Chief Business Officer, SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) said: “As the preferred financing partner of Suzuki Motorcycle India, one of the known brands in the Indian two-wheeler market, SMFG India Credit is committed to offering best in class finance solutions to their customers. This collaboration aligns perfectly with our mission of being the company of choice in the financial services space and a partner for progress. Being a diversified NBFC, we are well poised to provide customers with a wide range of tailor-made products beyond two-wheeler loans, helping them achieve their personal or business goals. Keeping this in mind, we are deeply focused on partnering with top OEMs across key sectors. We are thrilled to begin this partnership and look forward to jointly serving millions of customers across India.”
About Suzuki Motorcycle India Private Limited
Suzuki Motorcycle India Private Limited is a subsidiary of Suzuki Motor Corporation, Japan wherein they have the same manufacturing philosophy of PRODUCTS OF SUPERIOR VALUE right from the inception. Suzuki Motorcycle India manufactures two-wheelers best suited for valuable Indian customers. The Company started its India operation in February 2006.
About SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.)
SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) is registered as an NBFC – Investment and Credit Company (NBFC-ICC) with the Reserve Bank of India, and a member of Sumitomo Mitsui Financial Group (SMFG). SMFG India Credit started operations in 2007 and has established a pan India presence – across 600 towns and 65,000+ villages through 872 branches and 19,800+ employees offering lending products to underserved & unserved retail and small business borrowers. By doing so, it has introduced people to formal credit. SMFG India Credit’s primary services constitute financing of SME for working capital and growth, loans for commercial vehicles and two-wheelers, home improvement loans, loans against property, loans against shares, personal loans, working capital loans for urban self-employed and loans for rural livelihood advancement and financing of various rural micro enterprises.
Shareholders –
Sumitomo Mitsui Financial Group (SMFG)
SMFG holds a 74.9% stake in SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) and is one of the largest global banking and financial service groups, offering a diverse range of financial services including commercial banking, leasing, securities and consumer finance headquartered in Japan. SMFG is listed on the Tokyo and New York (via ADR) Stock Exchanges and has a market capitalization of approximately US$64.8 billion (as of 29th December 2023). SMFG is one of the global systemically important banks (G-SIBs) and has high credit ratings of A1 by Moody’s Investors Service and A- by Standard & Poor’s.
Fullerton Financial Holdings (FFH)
FFH is an independently operated strategic and operating investor in financial and related services in emerging markets. FFH creates shareholder value by being committed to building differentiated business models focused on the Mass Market and SME segments and enabling digital innovation for its portfolio companies. FFH is a wholly owned independent portfolio company of Singapore-headquartered investment company, Temasek.
Source link:https://www.suzukimotorcycle.co.in/
