Absa has launched its new corporate identity for vehicle and asset Finance to replace the Bankfin brand.

Absa has launched its new corporate identity for vehicle and asset Finance to replace the Bankfin brand.

"The Bankfin brand has served us very well over the years in the individual vehicle finance market. We will continue to entrench and grow our position in this market," said Peter Mageza, managing executive: Absa Vehicle and Asset Finance.

He said Absa Vehicle and Asset Finance would benefit from Absa's technological advancements and a superior e-enablement environment. The business unit would also gain from the more extensive Absa branch network and capital base.

"Customers will benefit from a convenient, flexible, easily available and more competitive offering as they can access their vehicle finance from their local branch. Absa in turn, will entrench itself as a bank that offers a full range of financial products and services, including motor vehicle finance."

Mageza told that he supported the idea of a meeting between government, manufactucturers and finance houses about vehicle affordability in SA.

"There have already been informal contacts, and the sooner we do this the better. On the issue of affordability, we have a vested interest in seeing the market grow. If we look at SA's population profile, we need to address the requirements of younger people,” he said.

Original article from Car