Bajaj Auto Finance announces its new brand identity as Bajaj Finserv Lending
Now brand identity has been changed of Bajaj Auto Finance as Bajaj Finserv Lending.Bajaj Finserv consists of Bajaj financial services. All the business services belonged to Bajaj Finserv will be associated with same identity and follow same values. Bajaj Auto finance has introduced Construction Equipment financing and Retail Loan against Securities business in April 2010.
- (1888PressRelease) August 14, 2010 - Bajaj Auto Finance has renamed its brand identity as Bajaj Finserv Lending. Bajaj Finserv is the financial services company of the Bajaj Group. Its current business lines include Protection through Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance and Lending through Bajaj Auto Finance.
All underlying businesses currently operate with their independent brands. With the intention to build a set of financial services businesses in coming years that share the Bajaj Finserv Group's common values of Reliability, Innovation and Efficiency and provide customers with high quality products and services, Bajaj Finserv has undertaken a review of its brand identity.
The new identity is easily identifiable and yet distinct. All the businesses under Bajaj Finserv would use the common identity in a coherent manner such that consumers experience through each business, the common Bajaj Finserv values and identify the new brand identity with the same.
Bajaj Finserv now has a new visual identity which completely embodies its growth and services. It uses the current Bajaj logotype to identify and stand on the very established and respected Bajaj identity .In addition it has a 3 dimensional seal with the B and f to make the new identity uniquely recognizable. The color blue in the logo indicates confidence & strength. The round ball symbolizes the world with focus on India.
Going forward, Bajaj Finserv has developed a full-fledged branding programme for all its group companies. Customers of any of the group companies will identify & associate themselves with Bajaj Finserv. This creates a single monolithic financial brand in India which will touch the lives of many Indians in years to come. The new identity will be rolled out by each Bajaj Finserv company shortly.
New Business Highlights:
Bajaj Auto Finance: - Bajaj Auto Finance (BAFL) has launched its Construction Equipment (CE) financing and Retail Loan against Securities (LAS) business in the month of April.
Construction Equipment industry size is approximately Rs. 15,000 Crore where Banks along with select NBFC's are key players. Bajaj Auto Finance Limited launched Construction Equipment financing w.e.f 1st April, 2010 in 16 locations. Bajaj Auto Finance Limited would primarily target medium to large customers in the first phase and increases the wallet size in the retail segment at a later stage. The average ticket size of the loan would be Rs. 35 lacs and the loan would be secured against hypothecation of construction/mining equipment. The infrastructure segment is a thrust area for the Government of India and Construction Equipment Finance is an enabler to participate in the growth of the Infrastructure segment.
Loan against Securities industry size is approximately Rs. 5,000 crore where Banks & NBFC's are key players. Bajaj Auto Finance Limited launched Loan against Securities w.e.f. 1st April, 2010 in 7 markets. Bajaj Auto Finance Limited will be offering Retail LAS products to HNI customer segment where the loan will be offered against pledge of Shares and Mutual Funds. The ticket size of Loan will be in the range of Rs. 50 Lacs to Rs. 10 crores.