Netsol Technologies Inc. (NASDAQ:NTWK)

BEIJING, Sept. 25, 2012 (GLOBE NEWSWIRE) -- NetSol Technologies (Nasdaq:NTWK), a provider of global IT and enterprise application solutions, today announced that Mercedes-Benz Leasing Company Ltd. (China), went live with the NetSol Financial Suite (NFS™).

The implementation further strengthens NetSol's relationship with Mercedes-Benz Financial Services in the Asia Pacific region and emphasizes NetSol Financial Suite as the leading solution for the asset finance and leasing industry.

The German luxury vehicle brand received Ministry of Commence People's Republic of China (MOFCOM) approval to establish Mercedes-Benz Leasing Co. Ltd., under its financial arm, to offer leasing as part of its various automotive financial services, making them the first automaker in China to offer leasing options to private and commercial customers.

"NetSol Financial Suite is one of the most successful lending technology platforms in the industry, supporting asset finance and leasing companies across the Asia Pacific, American and European markets and managing over $100 billion dollars of client portfolios," said Naeem Ghauri, NetSol's president and head of global sales.

"I am extremely proud of my team and highly appreciate their efforts in delivering success every time. What truly excites me is that with this implementation, we have achieved another first in China. I wish our Mercedes-Benz partners all the very best for the future," Ghauri added.