Central Bank targets home-loan book at Rs 10,000 cr by March
Mumbai: City-based public sector lender Central Bank of India on Sunday said it is targeting to take its home loan portfolio to over Rs 10,000 crore by this fiscal end.
"At the end of the September quarter, our home loan portfolio stood at Rs 6,800 crore, and by March, we are targeting to add Rs 4,000 crore or so. The target is to cross the Rs 10,000-crore-mark this fiscal," Chairman and Managing Director Mohan V Tanksale said.
With the huge success of 'Swapna Sankul-2012', the first realty exhibition organised here by the bank last week, Tanksale said that they intend to take the initiative forward to 100 other cities by March.
The expo was also aimed at tapping the huge government housing market.
At the expo, the bank notched up sales worth Rs 174.24 crore from 525 applicants, Tanksale said.
The chairman further said the bank will also focus on auto loans while adding that the home loan consumers will get a concession on rate of interest of the auto loan.
"Looking at the success of the Mumbai expo, we will hold similar expos and trade exhibitions in association with industry partners in the auto loan segment as well. However, home loans will remain our prime focus."
Central Bank has over 4,100 branches and over 1,900 ATMs across the country. Its balance-sheet has crossed Rs 3.57 trillion last quarter.
The retail portfolio stood at Rs 18,964 crore, as of end September, up 34 percent from the year ago quarter.
The bank will announce its September quarter numbers this week.
In the June quarter its net profit grew 19.6 percent to Rs 336 crore, while the core net interest income inched up 3.56 percent to Rs 1,377.7 crore.