YES BANK and Indiabulls Housing Finance Limited enter into a strategic co-lending partnership

YES BANK and Indiabulls Housing Finance Limited have entered into a strategic co-lending agreement to offer home loans to homebuyers at competitive interest rates. The partnership aims at synergizing capabilities to provide an efficient and seamless experience to retail home loan customers.

The co-lending framework laid down by Reserve Bank of India provides a collaboration tool to benefit from the low-cost funding model of a bank and the cost-efficient sourcing and servicing capabilities of a non-bank.

Rajan Pental, Global Head - Retail Banking, YES BANK said, "We are pleased to partner with Indiabulls Housing Finance Limited. This is in line with YES BANK's strategy of expanding its retail franchise through a mix of organic and partnership-led origination model. The Bank is looking forward to further build a profitable and quality home loan portfolio through this partnership."

Gagan Banga, Vice Chairman & CEO, Indiabulls Housing Finance Limited ­ said "We can now leverage YES BANK's deposit-led franchise and complement that with our technology-led distribution to provide efficient solutions around home Loans to a wide gamut of customers across geographies, ticket-size and yield spectrum, to give us balance-sheet light growth and profitability."

Shares of YES BANK LTD. was last trading in BSE at Rs. 12.94 as compared to the previous close of Rs. 13.05. The total number of shares traded during the day was 16877263 in over 28988 trades.

The stock hit an intraday high of Rs. 13.1 and intraday low of 12.84. The net turnover during the day was Rs. 218613996.

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs. 273.9 as compared to the previous close of Rs. 277.25. The total number of shares traded during the day was 889907 in over 9242 trades.

The stock hit an intraday high of Rs. 282.2 and intraday low of 269.5. The net turnover during the day was Rs. 245280991.

Source : Equity Bulls

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