ICICI Bank and IndoStar Capital Finance have entered into a sourcing and servicing arrangement to partner in extending credit to small and medium fleet owners to purchase used and new commercial vehicles.
Under this partnership, IndoStar Capital Finance will originate and service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing and in turn ICICI Bank will provide funding to these customers.
ICICI Bank is India’s largest private sector bank by consolidated assets. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms.
