The public sector bank, Central bank of India, has planned to hold property expos pan India, to accelerate growth in its home loans segment. The aim of organizing property expos are aimed at bringing home buyers and housing project developers at one place.
The Mumbai based bank aims to expand its home loans portfolio to Rs. 10, 000 crore by the end of the current fiscal. Last year, for the month ending September 30, the banks, home loans book stood at Rs. 6800 crore.
The main aim of holding home loan expositions was to increase business in the home loans segment, said the Chairman and Managing Director of the bank Mr. M.V.Tanksale. Recently, it held its first property expo, which was held for a period of two days. It was held in Mumbai by the name, "Swapna Sankul-2012". At the expo, it did a total business of about Rs. 50 crore. It plans to hold other expos across the country on the lines of the one held in Mumbai.
Mr. Tanksale further said that the home loans segment provides the bank with a lot of opportunity to increase its business. It is reported that home loans from about 4.5 percent of the bank's total loan book. Corporation bank expects to expand its share of home loans to 7 percent to 8 percent by the end of the current fiscal year.
At present, the bank has presence across the country through its network of 4100 branches.