Magma Fincorp joins hands with VE Commercial Vehicles
March 8th, 2010 - 9:28 pm ICT by IANSKolkata, March 8 (IANS) Asset finance company Magma Fincorp Ltd Monday signed an agreement with VE Commercial Vehicles (VECV). The tie-up is for financing Eicher-branded trucks and buses.
The VECV is a 50-50 joint venture between the Volvo Group and Eicher Motors, a company statement said.
“The tie up with VECV is in sync with our growth trajectory and we are looking forward to a successful partnership. We will finance VECV’s world-class medium and heavy-duty Eicher range of commercial vehicles through our network of 153 offices pan India,” said Sanjay Chamria, vice chairman and managing director, Magma Fincorp Ltd.
Magma Fincorp has a strong infrastructure in semi-urban and rural India. Magma offers finance for new and used commercial vehicle, passenger cars and utility vehicles, construction equipment and tractors.
- Magma to roll out housing finance, gold loan business FY13 - Apr 27, 2012
- Volvo Eicher eyes 15 percent share of heavy commercial vehicles market - May 11, 2012
- Magma Fincorp posts Rs.26.46 crore Q4 net profit - May 31, 2010
- Magma Fincorp focusing on western, southern India - Sep 05, 2011
- Magma Fincorp net rises 161 percent in third quarter - Jan 12, 2010
- Magma Fincorp to form joint venture with German firm - Jul 28, 2009
- Magma's Q2 income up 27 percent - Oct 17, 2011
- Magma Fincorp net up by 61 percent in Q1 - Jul 15, 2010
- Magma Fincorp plans to reach semi-urban, rural belts - Sep 20, 2010
- Magma Fincorp to offer Rs.246-cr retail loans in Karnataka - Nov 13, 2010
- Volvo ropes in Srei BNP Paribas to offer finance - May 11, 2011
- Magma Fincorp to disburse Rs.343 crore in Chhattisgarh - May 05, 2010
- Magma Fincorp to give Rs.532 crore in loans in Punjab, Haryana - Jul 05, 2010
- Magma Fincorp Q2 profit up 67 percent - Oct 12, 2010
- Magma Fincorp to mark presence in Vidarbha - Oct 08, 2010
Tags: asset finance, buses, class medium, commercial vehicles, construction equipment, eicher motors, finance company, fincorp, growth trajectory, heavy duty, joint venture, managing director, passenger cars, sanjay, sync, tractors, utility vehicles, vice chairman, volvo, volvo group