Central Bank of India

BANKING

Central Bank of India targets 

Rs 10,000 crore home loan business

in  FY ’12-13

Oct 30, 2012

Mumbai : India’s one of the leading public sector banks, Central Bank of India is looking ahead to cloak a total business of Rs 10,000 crore from home loan segment. The bank has been aggressively targeting prospective home seekers through its various initiatives.

After the success of “Swapna Sankul – 2012” – the first realty exhibition by the bank in Mumbai recently, the bank will take this initiative forward in 100 cities of the country by March 2013, announced Mr. Mohan Tanksale, CMD, Central Bank of India. He further added that the bank will also focus on auto loans. The home loan consumers will get a concession on rate of interest of the auto loan.

Mr. Tanksale said, “Looking at the success of Swapna Sankul-2012, we will hold similar expos and trade exhibitions in association with industry partners in the auto loan segment also. Home loan business would remain our prime focus. As on September 30, 2012, our home loan business touched Rs 6,800 crore and by March 2013, we are targeting to add the business of Rs 4,000 crore. Hence, we can achieve the target of Rs 10,000 crore by end of this fiscal.”

In two-day expo, about 40 project from various developers participated and received a very good response from the visitors. About 10,000 Mumbaikars visited the expo and the bank sanctioned 525 loan applications on the spot worth a value of Rs 174.24 crore.

Central Bank of India is present in 77 cities of india through its branch network and the process of home loan approvals sanctions will be expedited, he said.

Central Bank of India is a leading public sector bank and has a pan India presence through a wide network of more than 4,100 branches and more than 1,900 ATMs with a state-of-the-art technological platform. With a business over Rs 3,57,000crore, the bank offers a bouquet of products both in bulk and retail segments of advances and deposits. With a retail lending portfolio of Rs 18,964 crore, as on September 30, 2012, Central Bank of India has posted a robust growth of 34% Y-O-Y basis. The bank envisages to become a major player in the retail lending segment in the years ahead.