Under the agreement, DIMO will provide substantial discounts to Commercial Bank customers to lease TATA vehicles. The Bank will provide low interest rates and monthly rentals for leasing facilities. The vehicles covered under the special scheme include TATA trucks and buses.
A special insurance cover through Commercial Bancassurance has also been introduced for customers who lease vehicles through the Bank. This cover requires a low insurance premium.
“The partnership between Commercial Bank and DIMO will cater to the demand for quality commercial vehicles with low operating cost,” said Mr. S. Renganathan, Chief Operating Officer of Commercial Bank. “We believe it will be particularly helpful in the context of the construction boom in the country.”
The largest private bank in Sri Lanka and the only Sri Lankan Bank to be listed four years consecutively in the world’s top 1,000 Banks, Commercial Bank is one of the leading leasing service providers in the country and is a member of the Leasing Association of Sri Lanka. It provides leasing facilities for a range of assets of diverse values including machinery.
The only Sri Lankan Bank to be listed four years consecutively in the world’s Top 1,000 Banks, Commercial Bank operates a network of 237 branches and 599 ATMs in Sri Lanka. Ranked the most valuable private sector brand in the country in 2014, the Bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013. The Bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 for Honesty in 2013 and 2014 by the magazine.
DIMO, which celebrates its 75th anniversary this year, is the market leader in the commercial vehicle segment in Sri Lanka. DIMO and TATA have a strong relationship of over 53 years in the Sri Lankan market. DIMO has sales, service and spare parts outlets island wide with 24 hour road side assistance to provide an effective and an efficient service to the company’s customers.
Photo caption - Commercial Bank Managing Director/CEO Mr Jegan Durairatnam (3rd from right) and DIMO Group CEO Mr Gahanath Pandithage exchange the agreement in the presence of senior officials of the two companies.
