MOSCOW, November 3 /PRRussia/ — General Motors CIS and Alfa Bank have concluded a partnership agreement on a joint GM Finance automobile credit program. The program was initiated and devised by the General Motors Acceptance Corp. (GMAC), which jointly with General Motors CIS has chosen Alfa Bank as its partner and official representative in Russia. Under the program Alfa Bank is to make loans toward car purchases through official GM dealers all over Russia. Competitive credit terms, fast quality services and convenient and prompt loans are the key advantages offered by the program. Alfa Bank entered the automobile credit market in 2006, thus wrapping up the formation of a universal financial supermarket. To-date, Alfa Bank has issued 9,500 automobile credits for a total of over $120 million. The Alfa Bank regional automobile credit network currently has about 900 sales outlets in more than fifty Russian cities and towns. The provinces account for about 70% of all car credit sales.
Source: Alfa-Bank press service
