Prime Bank PLC has signed a memorandum of understanding (MoU) with Runner Motors PLC to introduce a specialised auto lease financing programme for cottage, micro, small and medium-sized enterprises (CMSMEs), aimed at improving access to commercial vehicles and supporting business growth.
M Nazeem A Choudhury, additional managing director of the bank, and Rajesh Kumar Yadav, chief financial officer of the automobile company, signed the MoU recently at the bank’s corporate head office in Dhaka, according to a press release.
Under the partnership, CMSME clients will have access to convenient and structured auto lease financing solutions at competitive interest rates to purchase commercial vehicles from Runner Motors PLC.
The initiative is designed to reduce financial barriers for entrepreneurs and business owners seeking to expand their logistics capabilities, improve transportation efficiency and strengthen their operational capacity.
Sajid Rahman, chief business officer of the bank; Md Mohsinur Rahman, executive vice-president and head of SME banking; Naimul Hasan Khan, executive vice-president and head of CRM-SME; and Md Feroz Kabir, senior general manager of sales and marketing at the automobile company, along with other senior officials from both organisations, were also present at the signing ceremony.