PNB Housing aims to bring corp loan book below Rs 10k cr by March 2022: MD
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PNB Housing Finance is targeting to reduce its corporate loan book to below Rs 10,000 crore by the end of this fiscal as it seeks to focus more on retail lending activities, according to a top company official. The company's corporate lending stood at Rs 10,PNB Housing aims to bring corp loan book below Rs 10k cr by March 2022: MD
PNB Housing Finance is targeting to reduce its corporate loan book to below Rs 10,000 crore by the end of this fiscal as it seeks to focus more on retail lending activities, according to a top company official. The company's corporate lending stood at Rs 10,989 crore at the end of the first quarter of 2021-22, accounting for 15 per cent of its Asset Under Management (AUM) and the latter touched Rs 71,828 crore during the same period. However, PNB Housing Finance's loan assets declined to Rs 60,438 crore at the end of June this year compared to Rs 68,009 crore in the year-ago period. The business of the company, promoted by state-owned Punjab National Bank (PNB), has been hit by the second COVID wave. «This quarter (June 2021) itself, we have been able to reduce the book by about Rs 800 crore in terms of corporate (lending). And we would like to bring it down to below Rs 10,000 crore (by March 2022),» Hardayal Prasad, Managing Director & CEO of PNB Housing Finance, told PTI in an .. Read more