Midland Bank Backs BYD Auto Loans up to Tk 80 Lakh

Midland Bank PLC signed an agreement recently with CG Runner BD Ltd to finance customer purchases of BYD vehicles in Bangladesh, offering loans ranging from Tk 4 lakh to Tk 80 lakh.

Managing director Imtiaz U Ahmed of Midland Bank and managing director Amid Sakif Khan of authorised distributor CG Runner BD completed the deal during a signing ceremony in Dhaka.

Under the facility, the lender finances up to 80 percent of a vehicle’s value with flexible repayment tenures reaching six years, delivering competitive interest rates to buyers.

Loan Terms and Processing Speed

Under the memorandum of understanding signed with authorized distributor CG Runner BD Ltd, the bank commits to turnaround times within three working days after receiving paperwork. Approval remains tied to the commercial lender’s internal credit assessments.

Midland Bank managing director Imtiaz U Ahmed and CG Runner BD managing director Amid Sakif Khan signed the deal in Dhaka. Institutional banking head Mohd Javed Tarek Khan, operations head Muhammed Noorunnabi, unit head Muhammad Majidul Haq Patwary and retail coordinator Mohammed Rashadul Anwar attended for the bank. Chief financial officer Md Ferdowsur Rahman and business development head Methun Bhattacharjee joined for the distributor.

Commercial EV Distribution in Dhaka

Commercial banks in South Asia rarely extended high-tenure consumer credit to new automotive brands without substantial down payments. By underwriting up to 80 percent of asset values, Midland Bank absorbs the residual value risk that typically slows down electric vehicle retail adoption in emerging markets.

Dhaka’s passenger car segment relies heavily on imported reconditioned combustion vehicles. Dealerships selling factory-new battery electric models need institutional debt lines to match the installment structures that grey-market fleet importers routinely provide through non-bank financial institutions.

Expanding South Asian Electric Mobility

BYD has pushed aggressively across developing Asian territories through local franchise agreements, selecting commercial partners capable of handling both assembly licenses and retail floor plans. CG Runner serves as the brand’s primary channel to bring battery electric sedans and compact SUVs into Bangladesh’s urban centres.

The agreement focuses strictly on retail financing for passenger buyers rather than commercial fleet operators or public transport bodies.

Next Steps for Borrower Uptake

Midland Bank now rolls the retail loan package through its branch network across the capital and regional commercial hubs. The immediate measure of demand will be loan booking volume as CG Runner delivers its upcoming batch of imported BYD units to showroom floors.