Keystone Bank partners Kewalram on auto loan financing

By Vivian Okejeme

Keystone Bank Limited has reaffirmed its commitment to deepening consumer auto financing through a strategic partnership with Kewalram Nigeria Limited, a leading automotive distributor of Soueast, Foton, and Isuzu vehicles in Nigeria.

In a statement on Wednesday, the bank disclosed that the partnership aims to expand access to affordable and convenient vehicle financing solutions and promote vehicle ownership among individuals and businesses.

According to the statement, “The collaboration covers a range of vehicles distributed by Kewalram Nigeria Limited, including Electric Vehicles (EVs), Hybrid Vehicles, and conventional automobiles, providing individuals and businesses with financing options that meet their mobility and operational needs.

“Through this partnership, our customers will have access to financing for both walk-in and pre-ordered vehicle purchases from Kewalram Nigeria Limited. Customers will also benefit from negotiated discounts of up to 15 percent on vehicle purchases, which will help cushion the effective interest cost on loans granted by the bank, improve affordability and accelerate vehicle acquisition,” it said.

Speaking at the Memorandum of Understanding (MoU) signing ceremony, Olayemi Sule, Group Head, Retail and Digital Banking at Keystone Bank, said the partnership represents another step in the lender’s commitment to making asset acquisition more accessible to its customers and Nigerians.

“By combining flexible auto financing with negotiated vehicle discounts, we are creating a proposition that improves affordability while supporting the mobility and business needs of individuals and enterprises.

“The retail market remains a critical focus for the Bank, and this partnership underscores our strategic commitment to expanding access to consumer and SME financing, fostering sustainable mobility, and strengthening collaborations that deliver tangible value to customers.

“The partnership is expected to drive increased uptake of the bank’s consumer auto loans, strengthen customer acquisition and retention, create cross-selling opportunities and enhance awareness of Keystone Bank’s retail risk asset products,” Sule said.

Some Keystone Bank officials present at the ceremony include Helen Maiyegun, Directorate Head, Lagos & West; Gani Adebayo, Directorate Head, Lagos Mainland; Izore Lami Bamawo, Group Head, Marketing and Corporate Communication; Olabimpe Onasanya, Group Head, Corporate Finance; Michael Batan, Group Head, Corporate Support; Alao Ayodeji, Group Head, Financial Institutions; Dr. Akinyemi Euba, Regional Head, Victoria Island; Francis Madukwe, Regional Head, Apapa and Bolajoko Agunlejika, Department Head, Retail Products.

With this partnership, Keystone Bank continues to strengthen its retail and SME lending proposition by developing financing solutions that improve access to productive assets, deepen market penetration, and enhance customer experience.