DLL Mahindra Mahindra Financial Services extend long-standing US JV

17 Mar 2022 , 01:32 AM

DLL a global financial solutions provider and fully-owned subsidiary of the Rabobank Group on 10 March 2022 announced an agreement with Mahindra Mahindra Financial Services MMFSL to extend their long-standing US joint venture The joint venture under the name Mahindra Finance USA offers retail and wholesale financing in the United States for Mahindra Ag North America MAgNA which assembles and distributes tractors side-by-sides and implements in North America DLL and MMFSL bring more than 60 years of combined experience in financial services and equipment lending Along with the joint venture agreement Mahindra Finance USA and MAgNA have agreed to an extension of their Program and Support Agreement for retail and wholesale financing in the US Mahindra Finance USA is celebrating its 10th year of the joint venture partnership The anniversary marks the first endcustomer retail finance contract booked by the joint venture in 2011 as well as managing the wholesale financing for MAgNA Since then Mahindra Finance USA has grown significantly reaching over $1 billion USD of assets under management While the anniversary recognizes the initiation of the joint venture the relationship between DLL and MAgNA goes back farther DLL and MAgNA have partnered together for more than twenty years to collectively grow their agricultural business in the US