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Fullerton India enters commercial vehicle finance
Mumbai, 14th January: Fullerton India Credit Company Limited one of India’s leading
Non-Banking Financial Company announced its foray into commercial vehicle financing
business.
After successful operations in personal finance, two-wheeler finance, finance to micro,
small and medium enterprises and microfinance Fullerton India has now forayed
into the fast growing Commercial Vehicle Finance Business in India. 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 Rs.1000
crores in the coming financial year in this business.
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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 Organisations
& 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 – upto 5 years.
Speaking on the new business Mr. 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. “
Fullerton India provides access to quality financial products and solutions to the under-
served segments of the urban and rural mass market and helps fulfill their needs
and aspirations. Fullerton India offers a range of financial services from personal
loans to salaried individuals, business loans to small retailers, small traders & micro
entrepreneurs, two-wheeler finance, mortgage finance, Asset based financing for SMEs
to commercial vehicle finance and microfinance.
About Fullerton India
Fullerton India Credit Company Limited a RBI registered Non-Banking Financial
Company with a registered office in Mumbai has more than 425 branches spread all
across the country. Fullerton India has disbursed over Rs 5000 Crores to mass market
customers. It has over 850,000 customers today. It serves the market spread across
330 towns and cities and has more than 8000 employees on its rolls.
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