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NIC Bank, Isuzu ink Sh1.2b bus leasing deal with the National Treasury

NIC Bank Asset Finance arm has 31 percent share of the market./FILE

NAIROBI, Kenya Oct 17 – NIC Bank has concluded a Sh1.2 billion leasing agreement with the National Treasury for delivery of 400 Isuzu Trucks, Buses and Double Cabs in partnership with Isuzu East Africa.

The Bank’s Executive Director, Alan Dodd said the vehicles are to be used by the National Police Service and Kenya Prisons to meet their transport requirements.

“This is NIC Bank’s first leasing agreement with the National Government. Under the agreement, the Government will be paying rental for the vehicles on a quarterly basis,” said Alan.

NIC Bank also recently commenced Direct Import Financing deal in partnership with MHH International, a leading second-hand vehicle importer and dealer, to offer customers up to 80pc financing for the importation of vehicles directly from the Japan car auctions.

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