Central Bank of India enters into Co-Lending Partnership for Home Loans with Tyger Home Finance Pvt Ltd

Central Bank of India has entered into a strategic Co-Lending Partnership with M/s. Tyger Home Finance Private Limited (Formerly Adani Housing Finance Private Limited) to offer Home Loans at competitive rates, subject to compliance with the applicable law(s) including the applicable guidelines issued by Reserve Bank of India (RBI). The participation by both the entities in this Co-Lending arrangement will result in greater expansion of portfolio by Central Bank of India and M/s. Tyger Home Finance Private Limited (Formerly Adani Housing Finance Private Limited).

Tyger Home Finance Private Limited (THFPL) Erstwhile Adani Housing Finance Private Limited (AHFPL) is the Housing Finance Company ('HFC') is registered with NHB as Housing Finance Company. THFPL has a branch network of 95 branches spread across 7 states i.e. Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan and Telangana and an AUM of INR 1174 Cr as on 30.06.2024 providing affordable housing finance to realize home-ownership aspirations of millions of lower and middle income families in semi-urban and rural India.

Under the arrangement, M/s. Tyger Home Finance Private Limited (Formerly Adani Housing Finance Private Limited) will originate and process Loan proposals under Home Loan Sector as per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books 80% of the Home Loans under mutually agreed terms. M/s. Tyger Home Finance Private Limited (Formerly Adani Housing Finance Private Limited) will service the loan accounts throughout the life cycle of the loans. The Co-Lending arrangement is expected to help both the entities to offer convenient experience and customer delight to their customers as well as expand their reach across India.

Shares of Central Bank of India was last trading in BSE at Rs. 64.13 as compared to the previous close of Rs. 62.94. The total number of shares traded during the day was 1715962 in over 8025 trades.

The stock hit an intraday high of Rs. 65.20 and intraday low of 62.87. The net turnover during the day was Rs. 110046749.00.

Source : Equity Bulls

Keywords

CentralBankofIndia INE483A01010 CoLendingPartnership HomeLoans TygerHomeFinance