Eastern Bank recently signed a memorandum of understanding (MoU) with Rancon Car Hub Ltd, a strategic business unit formed under Rancon Holdings Limited.

M Khorshed Anowar, deputy managing director and head of retail and SME banking of the bank, and Hussain Mashnoor Chowdhury, chief executive officer of the automobile company, penned the MoU in Gulshan, according to a press release.

Under the MoU, the bank will offer auto loans at attractive terms and conditions to customers that purchase reconditioned cars from Rancon Car Hub.

Syed Zulkar Nayen, head of business-retail and SME banking of the bank, and Md Obeydur Rahman Patoary, sales operation manager of the automobile company were among others present.