Bank of Baroda signs MoU with Centrum Housing Finance Ltd. to source and finance Housing loans.
- ByStartupStory | December 10, 2021
Bank of Baroda has signed an MoU with Centrum Housing Finance Limited (CHFL) for sourcing and financing housing loan borrowers under Co-lending Model (CLM) mechanism. According to sources, General Manager, Mortgage and Other Retail Assets of Bank of Baroda, Harshadkumar T. Solanki and MD & CEO of CHFL, Sanjay Shukla, signed the deal on 9th December.
Mr. Solanki said in a statement, “This tie-up opens up multiple opportunities for both institutions. The Bank will be able to penetrate deep into the markets of tier 2 & tier 3 cities at very competitive rates. Bank would be able to garner more and more housing loan segment business to the extent of Rs.1000 crore in one financial year”
After the deal, Mr. Shukla also added, “We welcome Bank of Baroda as one of our partners and believe in collaborative approach leveraging each other’s strengths to maximize the credit flow to underserved and un-served segments.”
CHFL is a new age housing finance company providing long-term housing finance to ‘middle class’ India with its presence in tier 2 & 3 cities that are under-served by traditional lenders/banks.
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