Mercedes-Benz Bank opens branch in Spain
Stuttgart/Madrid
,
May 01, 2008
Mercedes-Benz Bank opens branch in Spain
Mercedes-Benz Bank opens its first foreign branch in Madrid. The new bank will offer loans to help Spanish dealerships that sell Daimler or Chrysler brand vehicles finance their vehicle inventory, including new, pre-owned, and demonstration models. Mercedes-Benz Bank will be taking advantage of its favorable refinancing costs to provide Spanish dealerships with attractive interest rates.
The new Spanish branch will open up international perspectives and new business opportunities for Mercedes-Benz Bank, as well as further potential for cost savings on the basis of the increased loan portfolio. At present, the Spanish affiliate of Mercedes- Benz Bank serves 150 dealerships, representing a financing portfolio of more than €100 million.
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