BRAC Bank PLC has entered into a partnership with Fair Technology Ltd, the official distributor of Hyundai vehicles in Bangladesh, to provide auto loan facilities for customers purchasing selected Hyundai models.
The agreement aims to streamline the financing process for vehicle buyers, linking the bank’s retail banking operations directly with the automaker’s local distribution network.
The collaboration underscores a broader trend among financial institutions in emerging markets to deepen ties with automotive distributors.
By offering dedicated loan products, BRAC Bank seeks to capture a larger share of the consumer credit market, particularly in the high-demand vehicle segment.
This strategy aligns with efforts by other regional banks to lower barriers to car ownership through tailored financing solutions.
In a similar move, Access Bank Plc recently launched its AutoFest initiative in Nigeria, designed to make vehicle financing more accessible amid tightening economic conditions.