Indiabulls Housing Finance Ltd enters into co-lending tie-up with Central Bank of India

Indiabulls Housing Finance Limited ("IBH") and Indiabulls Commercial Credit Limited ("ICCL") has entered into a strategic co-lending partnership with Central Bank of India to offer secured retail loans and secured MSME loans respectively at competitive rates.

Established in 1911, Central Bank of India is one of the oldest and largest public sector bank in India with total assets of over ₹ 3.5 Lakh Crores and a pan-Indian network of over 4,500 branches.

IBH and ICCL will originate loans as per credit policy jointly drawn up with Central Bank of India. These loans will then be securitised to Central Bank of India on back-to-back basis in line with the provisions of RBI's Co-Lending Model. IBH / ICCL will retain 20% of the loan on their books while 80% will be on Central Bank of India's books. IBH / ICCL will service the loan account throughout the life cycle of the loan.

Co-lending tie-up with Central Bank of India will be a key partnership in IBH's new balance-sheet light growth business model. Moreover, technology led co-lending will help IBH offer convenient and seamless experience to its customers as well as help expand its reach to Tier III and IV towns of the country apart from strengthening its foothold in Tier I and Tier II towns.

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.247.8 as compared to the previous close of Rs. 261.4. The total number of shares traded during the day was 2343609 in over 27371 trades.

The stock hit an intraday high of Rs. 264 and intraday low of 246.5. The net turnover during the day was Rs. 592398040.

Source : Equity Bulls

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