Maybank ties up with Honda Malaysia for auto financing
KUALA LUMPUR: Malayan Banking Bhd (Maybank) has tied up with Honda Malaysia Sdn Bhd to be an automotive financier in the country as well as a provider for comprehensive financial services solution.
Maybank said on Monday that financial services solution covers car manufacturing, distribution, retailing and after sale services for its suppliers, dealers and customers in Malaysia.
It added that as a financial solution provider, it would provide access to floor stocking financing, hire purchase, credit card merchants, cash management, Distributor-Supplier Financing packages and MaxiPlan.
“Maybank will also provide clients of Honda Malaysia with access to personal and business insurance coverage as well as online banking services,” Maybank said.
Maybank’s head of community financial services, Hamirullah Boorhan said the tie-up would benefit Honda dealers as they would enjoy electronic and mobile access to the entire suite of banking products and services from Maybank.
“With their banking and financing needs being taken care of by Maybank, we are sure that the dealers can then focus on business development and sales, leading to better overall efficiency and profitability,” he said.
The banking group said the partnership between both parties would enhance operational efficiencies for Honda customers and its networks for faster delivery of business solutions.
Hamirullah noted that Maybank has posted strong growth of 10.3% in its automobile financing franchise industry compared to 4.4% last year, reflecting its capability to be the automotive financier in Malaysia.
“This has been achieved by maintaining superior asset quality with our impaired loans ratio being the lowest in the industry,” he said.
Maybank is the leading provider of floor stocking financing in Malaysia with a market share accounting to more than 70%.-.thestar.com.my
Maybank said on Monday that financial services solution covers car manufacturing, distribution, retailing and after sale services for its suppliers, dealers and customers in Malaysia.
It added that as a financial solution provider, it would provide access to floor stocking financing, hire purchase, credit card merchants, cash management, Distributor-Supplier Financing packages and MaxiPlan.
“Maybank will also provide clients of Honda Malaysia with access to personal and business insurance coverage as well as online banking services,” Maybank said.
Maybank’s head of community financial services, Hamirullah Boorhan said the tie-up would benefit Honda dealers as they would enjoy electronic and mobile access to the entire suite of banking products and services from Maybank.
“With their banking and financing needs being taken care of by Maybank, we are sure that the dealers can then focus on business development and sales, leading to better overall efficiency and profitability,” he said.
The banking group said the partnership between both parties would enhance operational efficiencies for Honda customers and its networks for faster delivery of business solutions.
Hamirullah noted that Maybank has posted strong growth of 10.3% in its automobile financing franchise industry compared to 4.4% last year, reflecting its capability to be the automotive financier in Malaysia.
“This has been achieved by maintaining superior asset quality with our impaired loans ratio being the lowest in the industry,” he said.
Maybank is the leading provider of floor stocking financing in Malaysia with a market share accounting to more than 70%.-.thestar.com.my
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