EON Bank aims to drive up car loans to RM4b.

Byline: Chong Pooi Koon

EON Bank Bhd, the country's third smallest lender, aims to give out RM4 billion worth of car loans this year, up 8 per cent from last year, driven by its year-long campaign that gives cash prizes to lucky customers.

A successful hire purchase campaign last year has allowed the bank to disburse RM1.4 billion financing within five months, helping it gain market share to become the third biggest car financier in the country.

EON Bank has 11 per cent of the car loan market, chief executive officer Michael Lor said.

Despite the growth, he said its non-performing car loans ratio has fallen to 1.7 per cent currently, compared with …