NEWS & ADVICE : CAR LOANS
Religare Finvest aims for Rs 6k cr loan book by fiscal end
By Vaibhav Aggarwal
Nov 24, 2010
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Religare Finvest aims to attain loan book size of Rs 6700 crore by fiscal end, taking into consideration the view that demand in housing as well as auto loan segments is going to see a pick.

As per Religare Finvest Chief Executive Kavi Arora, the company has attained total assets worth Rs 4500 crore till November mid.

"We aim to cross the the $1.5 billion (Rs 6,750 crore)assets by the end of current fiscal. The credit growth will be across all our lending verticals. We aim to have a loan portfolio of $5 billion by 2015," Arora said.

The asset base of the firm amounted to Rs 1,700 crore last fiscal of which 85% was secured loan and the remaining 15% was unsecured loan granted to SME segment in terms of working capital.

"We are adequately funded to support the loan growth. Our entire capital base or net owned funds are at Rs 1,600 crore which can support the loan portfolio for the next one year," Arora said.

The firm recently acquired the troubled home loan portfolio of Citigroup for Rs 500 crore.


 


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