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DCB Bank has tied up with TVS Credit Services for retail loans. “The effort is aimed at entering newer markets in partnership with a reputed entity,” says Praveen Kutty, Head (Retail and SME Banking), DCB Bank.
The bank has a network of over160 branches in 109 locations across 17 States and 2 Union Territories.
TVS Credit Services (CS), a five-year-old NBFC, on the other hand has established its presence across 1,000 locations in the country.
TVS Credit Services, which is primarily in the two-wheeler financing space, would enter the new car financing arena, following this tie-up.
“In due course, we will be happy to white label our entire gamut of products. TVS CS is in many markets; this tie-up would therefore give us entry into newer markets. We also need not stretch out on distribution,” Kutty told BusinessLine .
The partners to the agreement perceive that the collective nimbleness would enable them to reach out to more customers.
“We would offer new car finance across 40 towns in the first phase, starting November 23,” G Venkatraman, Chief Executive, TVS CS, said.
The roll-out initially is expected in Tamil Nadu, Telangana, Andhra Pradesh and Karnataka.
When asked if this alliance will slow down DCB Bank’s expansion plans, Kutty said, “Not at all; we will be able to offer operational excellence.”
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