ICICI Bank is trying to be attacking regarding auto channel financing business.It is trying to fully takeover the Mumbai-based, auto-dealer finance organization, Transamerica Apple Distribution Finance Ltd (TADFL). The shares of TADFL would be done away with and the company would merge with the bank.
ICICI has taken over hundred per cent of TADFL in an all cash transactions. The auto-dealer finance organization has an asset book of more than two hundred crore.TADFL is supposed to be renamed ICICI Distribution Finance Company Ltd and united with the bank.
TADFL is a combined enterprize of Transamerica Distribution Finance (TDF), USA, which, through its subsidiary TDF Mauritius and Apple Credit Corporation (Apple). TADFL deals in both receivable as well as inventory financing to dealers and retail customers.
TADFL has tie ups to provide finance to the dealers of leading two wheeler manufacturers like TVS Motor Co Ltd and Yamaha Motors Ltd and also with Mahindra & Mahindra and L&T John Deere, who specialize in manufacturing tractors.
TADFL also provides receivable financing to Whirlpool of India Ltd and dealer funding to Indian dealers of Cisco Systems Ltd. ICICI Bank is already pretty belligerent in the channel financing business of sectors like FMCG and oil sector, besides, automobiles. With regards to channel financing, a bank finances all three legs of the product chain, the manufacturer through corporate loans, the dealer through channel financing and the consumer through auto loans. Many private banks are now being aggressive regarding channel financing in various sectors.
TADFL also has a retail-lending portfolio with finance provided to consumers of two wheelers. Up until March 2002, TADFL had reportedly registered a net profit of more than 4.6 million.
Welcome Car Finance is an affiliate of the Cattles Plc group of companies. Welcome Car Finance are a FTSE 250 company with more than four thousand employees and more than seven hundred thousand active consumers all over the UK. Since the past fourteen years Welcome Car Finance have approved more than a million people who have had credit problems.
Welcome Car Finance presents exciting deals and lucrative offers.The consumers need not look anywhere else if they want to buy the newest and the best cars. The customer friendly team arrange for easy and convenient finance. They are offering great choices of makes and models at relatively affordable prices. Consumers are also being given two hundred fifty pounds cashback only for opting Welcome, and not less than a thousand pounds on part-exchanges provided they are willing to exchange their older cars.
Welcome Car Finance are also providing customized car credit the consumers would agree to when they purchase their Welcome you deal from a single salesman, from the enquiries made at the start, to the time they are provided with the keys of the car. That is the reason Welcome Car Finance are able to provide car finance according to the financial capabilities and standard of life and customers could always rely on the service Welcome Car Finance provide.
Triad Financial Corporation helps people realize their dreams of owning a car or truck by providing finance for buying them.Triad Financial Corporation specializes in looking after the needs of those who do not have access to regular sources.Triad Financial Corporation also helps the consumers get nearer to rebuilding their credit.
Triad Financial Corporation is currently aiming at being the best non-prime auto finance company of choice for the customers,the employees and the shareholders. According to Triad Financial Corporation, their name signifies stands for the union of three � the Employee, the Customer and the Shareholder � coming together and engaging in a car buying activity.
Triad Financial Corporation was established in 1989 by three business partners having a single-room office and an ambition of providing better ways to provide finance for automobile purchases.
Triad is a leading non-prime automobile financing company having over one thousand and three hundred employees, relationships with almost six thousand five hundred automobile dealers and three hundred thousand borrower and customers, all over the US and monetary assets of almost five billion dollars, primarily, in managed receivables.
Triad Financial Corporation has its headquarters in Huntington Beach, California as well as a regional office in North Richland Hills, Texas.
Triad is owned by a syndicate constituting of three highly respected investment firms having immense monetary strength and experience in financial services . The group is headed by Gerald J. Ford, President of Hunter�s Glen/Ford Ltd. and former Chairman and CEO of Golden State Bancorp and Carl Webb, Triad�s former president and CEO. Besides it also includes GTCR Golder Rauner, a chief private equity firm, and Goldman Sachs, a big investment bank.
The members of Triad�s Leadership Team are industry veterans and experts in their fields
Last Updated on : 1st August 2013