SREI Infrastructure Benchmark Rate increases by 50 Basis Points

SREI Infrastructure Finance Ltd has announced that the Company has raised its Benchmark Rate (SBR) by 50 basis points to 11.5%. The change will be effective from January 01, 2007.

The Company's Asset Liability Committee (ALCO) met last Saturday and after reviewing the likely increase in the borrowing costs, decided to increase the benchmark lending rate in line with the present trend of upward moving interest rates in the financial market.

Hemant Kanoria, Vice Chairman & Managing Director of the Company said, "even after the increase, we will continue to be very competitive in comparison with other banks which are active in the infrastructure financing market." He asserted that the increase in rates is unlikely to affect the momentum of growth. This he said was clearly visible from the robust growth in disbursement volumes.

The Company has touched nearly a billion dollars in assets under management. Besides growing its traditional areas of business such as road, power, ports, aviation and urban infrastructure sectors, the Company forayed successfully into funding infrastructure in the railway sector. Mining is also another area where the Company has established a significant presence.

Source : Equity Bulls

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