LIC Housing Finance Ltd to increase financial services
By Joseph Samson
Jun 27, 2008
Print    Email    RSS   

LIC Housing Finance Ltd is entering new sectors of business. It has decided to start a subsidiary for the purpose of selling financial products. These would include home loans, mutual funds and insurance policies. The new company would be called LIC Financial Services Ltd (LIC HFL) and is expected to start operations in the next two to three months.

Mr R.R. Nair, newly appointed Director and Chief Executive, LIC Housing Finance Ltd (LIC HFL), said, “This will be a financial services company which will market and distribute all financial products such as home loans, insurance, mutual funds, credit cards and other third party products.”

Speaking on the methodology of entering into the market, Nair did not rule out a possible joint venture or partnership with another company. He said, “While LIC HFL will distribute only LIC HFL’s home loans and LIC’s insurance policies, in the case of other financial products, we may tie up with other companies”.

He also said that there was the need to set up the company which would diversify into more areas, and hence, LIC HFL was born. He added that this will help the housing finance company have an organised channel of distribution that would be professionally managed.

The new Chief Executive, who took over in April this year, also said that, “The company will self –sustain itself by earning its own revenue through fee-based income. It will not be capital- intensive as it will require only working capital.”

Page  | 12 |  
(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Can we claim tax benefits on home loan and...
Income Tax Benefits on Joint Home Loans
How to go about ‘Leveraged Investing’
Prepayment on loans: 'To do or not to do'
Credit profile and its effect on loan...

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive