Dhaka Bank PLC has signed a Memorandum of Understanding (MoU) with Toyota Bangladesh Limited to develop a strategic collaboration focused on expanding auto loan and vehicle financing facilities for customers, according to a press release.
The signing ceremony was held at the head office of Toyota Bangladesh Limited in the Tejgaon Industrial Area of Dhaka. The agreement was formally exchanged between Md. Mostaque Ahmed, Deputy Managing Director and Chief Emerging Market Officer of Dhaka Bank PLC, and Premmit Singh, President and Managing Director of Toyota Bangladesh Limited, on behalf of their respective organisations.
Through this agreement, Dhaka Bank customers will gain access to preferential auto loan facilities designed to support the purchase of a range of new Toyota vehicles. The arrangement is intended to make vehicle financing more accessible by offering structured lending options through the banking channel in partnership with the automotive distributor.
In addition to preferential financing terms, customers will also benefit from special discounted pricing on selected Toyota models. The MoU further includes access to exclusive facilities and value-added services connected with the vehicle purchase process. These benefits are expected to improve overall customer convenience by reducing procedural complexities and integrating financing and purchasing services more closely.
Both organisations stated their commitment to building a long-term collaborative relationship. They emphasised that the partnership is intended to deliver enhanced customer value by combining financial services with automotive solutions. The initiative is aligned with efforts to improve accessibility to vehicle ownership through formalised financing mechanisms.
The collaboration reflects an established model in which commercial banks and automobile distributors work together to facilitate retail auto financing. Such arrangements typically enable customers to obtain vehicles through structured repayment plans while benefiting from coordinated service offerings between financial and automotive institutions.
The MoU is also expected to support more efficient customer service delivery by streamlining the financing process for Toyota vehicle purchases under Dhaka Bank’s lending framework. This integration of services is aimed at simplifying customer experience while ensuring wider availability of financing options.
Key Details of the Agreement
| Item | Description |
|---|---|
| Type of Agreement | Memorandum of Understanding (MoU) |
| Participating Organisations | Dhaka Bank PLC; Toyota Bangladesh Limited |
| Venue | Head Office of Toyota Bangladesh Limited, Tejgaon Industrial Area, Dhaka |
| Representative (Dhaka Bank) | Md. Mostaque Ahmed, Deputy Managing Director & Chief Emerging Market Officer |
| Representative (Toyota Bangladesh) | Premmit Singh, President and Managing Director |
| Main Objective | Expansion of auto loan and vehicle financing services |
| Customer Benefits | Preferential loan terms, discounted vehicle prices, exclusive facilities, value-added services |
| Expected Outcome | Improved access to vehicle financing and enhanced customer convenience |
The agreement is positioned to strengthen cooperation between the banking and automotive sectors in Bangladesh by linking financing services with vehicle distribution, thereby supporting more accessible and structured vehicle ownership solutions for customers.