Keystone Bank Partners Kewalram for Auto Loan Financing

Keystone Bank Limited has announced a strategic partnership with Kewalram Nigeria Limited, a prominent automotive distributor of Soueast, Foton, and Isuzu vehicles in Nigeria, to enhance consumer auto financing. This partnership aims to provide affordable and convenient vehicle financing solutions, promoting vehicle ownership among individuals and businesses.

The collaboration encompasses a variety of vehicles, including Electric Vehicles (EVs), Hybrid Vehicles, and conventional automobiles. Customers will have access to financing for both walk-in and pre-ordered vehicle purchases, along with negotiated discounts of up to 15% on vehicle purchases.

This initiative is designed to alleviate the effective interest cost on loans, thereby improving affordability and expediting vehicle acquisition. Olayemi Sule, Group Head of Retail and Digital Banking at Keystone Bank, emphasized the partnership's role in making asset acquisition more accessible.

The partnership is expected to increase the uptake of consumer auto loans, enhance customer acquisition and retention, and improve awareness of Keystone Bank’s retail risk asset products. Key officials from Keystone Bank were present at the Memorandum of Understanding signing ceremony.