NIC BANK AWARDS ITS TOP ASSET FINANCE DEALERS AT THE NIC ANNUAL JOHARI AWARDS

Executive director NIC bank Alan Dodd and top sales  overall winner John Ngugi

October 25, 2015…NIC Asset Finance, a subsidiary of listed lender NIC Bank Group, awarded its top performing motor dealers on Friday 23, October at the annual Johari Awards Ceremony.

More than 400 dealers from 46 new motor vehicle & machinery dealerships,   as well as various second hand car dealers in Nairobi converged at Panari Hotel to celebrate this year’s achievement, especially in a competitive volatile environment.

Speaking during the event NIC Bank Executive Director Alan Dodd said the support gained from dealers has enabled the Bank retain its position as the market leader in providing flexible asset financing solutions.

“NIC Bank’s heritage is asset finance and despite many players coming into the market we have continued to be the market leader. As a bank we are working to constantly offer our customers the highest level of business in terms of value through NIC Bank and we appreciate all the dealers, our partners,” said Mr Dodd.

Earlier this year the bank launched NIC Leasing LLP, a new subsidiary offering Operating Leases, to further complement the NIC Bank asset finance offering.

MR John Ngugi of Isuzu- Central Farmers Garage was named this year’s overall winner having supported NIC Bank with the highest value of asset finance business countrywide. 1^st Runners up was Catherine Muthui of General Motors East Africa.

NIC Credit risk director Margaret Kimuma and top sales
used private vehicles winner Angela Wahinya

The dealers are mainly in motor vehicle, machinery and technical equipment financing were drawn from various outlets countrywide dealing with new vehicles and second hand including General Motors, Simba Colt, CMC Motors, DT Dobie, Toyota Kenya, RMA Motors , Porsche, Tata, Isuzu Dealers, Central Farmers Garage (CFG), Transport & Lifting (T&L), Ganatra,  Heavy Vehicles and Plants Suppliers (HPVS) and many more including second hand car dealerships.

“We are committed to provide our customers with innovative asset finance solutions across our branch networks within the region, to expand their businesses or also to improve business performance by acquiring or upgrading their assets. The only security required by the bank for the loan is the asset itself,” said NIC Bank’s Head of Asset Finance Moses Karanu.