Honda inks deal with Maybank on financial services

By CARSIFU | 11 May 2015


KUALA LUMPUR: Maybank has signed an agreement with Honda Malaysia Sdn Bhd that would allow the bank to provide a range of financial services to Honda clients and dealers.

In a statement today, Maybank said the agreement, the first of its kind among car companies in Malaysia, covered the entire supply chain, from car manufacturing, distribution, retailing and after sale services for its suppliers, dealers and customers in Malaysia.

Maybanks Head of Community Financial Services, Hamirullah Boorhan, said the tie-up would benefit Honda dealers as they would enjoy convenient physical, electronic and mobile access to the banking products and services.

It would provide access to floor stocking financing, hire purchase, credit card merchants, cash management, Distributor-Supplier Financing packages, MaxiPlan, personal and business insurance coverage and access to online banking services to Honda clients.

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 partnership also covers joint efforts to establish larger business extensions and elevate operational efficiencies for Honda customers and its network for faster delivery of business solutions.

He added that Maybank has seen strong growth in its automobile financing franchise over the years with a growth rate of 10.3 per cent, double the industry growth of 4.4 per cent last year.

This was achieved by maintaining superior asset quality with its impaired loans ratio being the lowest in the industry, he said.

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