Kotak Mahindra Prime acquired Ford Credit India’s indebtedness portfolio of Rs 425 crore dispersed crossed 16,000 customers, an authoritative connection said.
A Kotak Mahindra Bank limb connected Wednesday announced it has acquired the rider conveyance concern portfolio of the exiting Ford Motor Company’s captive lending level for an undisclosed sum.
Kotak Mahindra Prime acquired Ford Credit India’s indebtedness portfolio of Rs 425 crore dispersed crossed 16,000 customers, an authoritative connection said.
The woody comes 3 months aft Kotak Mahindra Group’s acquisition of the conveyance financing indebtedness portfolio of Volkswagen Finance comprising rider cars, two-wheelers and commercialized vehicles.
Kotak Mahindra Prime’s managing manager Vyomesh Kapasi said the woody should beryllium seen arsenic illustrative of the company’s purpose to turn its conveyance financing concern and person a beardown beingness successful this space.
Ford Credit has been successful concern since 2015 and its customers volition modulation to Kotak Prime successful a planned mode implicit the adjacent fewer months, arsenic per the statement.
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