Money & Banking

Shriram City Union Fin clocks its highest two-wheeler loan disbursals at ₹1,000 cr in Nov

PTI New Delhi | Updated on December 03, 2020

YS Chakravarti, Managing Director & CEO of Shriram City Union Finance   -  BusinessLine

Shriram City Union Finance on Thursday said it has clocked its highest ever two-wheeler loan disbursals at over ₹1,000 crore in November on the back of festive demand.

The company financed over 1.66 lakh two-wheeler loans in November 2020, it said in a release.

This represents disbursements of slightly over ₹1,000 crore. This is a new high for the lender, Shriram City Union Finance said.

Shriram City had also financed over 1 lakh two-wheelers in October 2020, and counts among the largest such financiers in the country by volume, it added.

“The festival months have generally always seen Shriram City scale up its two-wheeler financing business, but this year’s performance has been particularly pleasing as it comes on the back of a prolonged lockdown.

“After having financed over 1 lakh vehicles in October, our teams did even better in November, and we funded almost 1.67 lakh two wheelers in the month,” the company’s MD and CEO Y S Chakravarti said. The company financed 10.41 per cent of the number of two-wheelers sold in the country in the month, he added.

Published on December 03, 2020

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