FRANKFURT, March 17 German carmaker Daimler
on Monday said it will expand its Mercedes-Benz Bank
unit in Europe to add customer loans to its product offering
which currently mainly provides loans to dealers.
"Between now and 2018, we will be spending some 500 million
euros ($696 million) on our European business," said Franz
Reiner, the CEO of Mercedes-Benz Bank and member of the Daimler
Financial Services board of management responsible for business
In total, Mercedes-Benz Bank now has 780,000 vehicles on the
books, ranging from small smart cars to Actros heavy-duty
Until now, branches have focused on loans to dealers.
However, customer loans will soon be added to their portfolio of
services, Daimler said.
($1 = 0.7181 Euros)
(Reporting by Edward Taylor)