“In order to meet the commercial needs of existing and new clients, the Bank has tied up with Ashok Leyland and expects good business under this segment,” according to the statement issued by the Bank.
The agreement between the two parties, was inked on December 28, 2011 in Chennai by Mr KB Nagendra Murthy, General Manager (Credit) of Tamilnad Mercantile Bank and Mr Srinivasan Anand, Head Sales-Financing of Ashok Leyland.
The occasion also witnessed the presence of Tamilnad Mercantile Bank MD-cum-CEO Mr AK Jagannathan and Ashok Leyland special director (finance) Mr Arjun Ananth.
Furthermore, during the same day of signing MoU, the bank has announced the allotment of Rs 8 crore to the various customers of the Bank.
Presently, the clientele base of the Bank stands at 2.80 million.
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