NBS launches asset financing

National Building Society (NBS) Bank launched its asset financing programme through their private banking arm as it seeks to give its customers more value.

Such services will be available to the newly created Platinum Pavilion Club of customers, the bank said during the launch in Alex Park in the capital.

Tapera Mushoriwa, NBS Zimbabwe managing director said; “As we continue to Bank, Build and go Beyond, it is an absolute pleasure to announce that NBS successfully launched its Private Banking Unit, The Platinum Pavilion. This is an opportunity for us to provide you, our clients, with high-end, tailor-made banking solutions specially customised to fit into your schedule.

In asset-based lending, a person borrows money to purchase a home or car, and the asset being purchased acts as collateral for the loan. If the loan is not repaid within the specified time, the lender reserves the right to seize the asset and sell it to pay off the outstanding balance of the loan.

The bank got into a partnership with Croco Motors and ZIMOCO to buy cars for their elite customers as part of the asset financing programme.

“Imagine being able to walk into a Croco Motors or ZIMOCO dealership to leave with your dream car? It’s now possible through NBS Private Banking.

“NBS now has asset financing for platinum clients. For us, lifestyle banking is about going beyond. We are ready to finance luxury vehicles paying directly within our luxe synergism value chain to meet the needs of our Platinum Pavilion Club members,” the bank said.

Mushoriwa added that; “We remain indebted to you, our customers, for the overwhelming support you continue to show us. Thank you for the faith you have invested in us.”

Exodus Makumbe was the guest of honour at the event, and hoped that the bank will continue to be innovative for its customers going forward.

He said; “I am a lover of things and I look forward to the bank coming through with more innovations or even being able to pay for my bills at restaurants.”

Makumbe is a successful banker of over 30 years and founder of a number of construction related companies and is an NBS Platinum Pavilion Club member.

This comes as the bank has expanded into corporate and institutional banking.

“By entering into corporate banking, we have made an assertion that we want to play a part in Zimbabwe’s industrialisation,” the bank said. “We are a Zimbabwean bank,” Mushoriwa said.

“This is home, we understand the market and our current and future performance is tied to the same operating environment. We believe in banking focused on tailor-made solutions specific to your circumstances and aligned to your vision.”-ebusinessweekly