A top official of Public Sector lender, Central bank of India said in Mumbai that the bank was expecting its home loan segment to grow by 25 per cent in the current fiscal, which would widen the portfolio size to Rs 10,000-crore.
Addressing reporters, Central Bank of India’s Chairman and Managing Director, S Sridhar, said, “We are looking at a home loan growth of about 25 per cent this year. Approximately, it (the home loan portfolio) is Rs 8,000-crore. After the 25 per cent growth, it will be another Rs 2,000-crore.” He continued that while the banks home loan portfolio currently constitutes around eight per cent of its total loan portfolio, it is expected to rise to 9 – 9.5 % by the end of this fiscal.
Sridhar said the bank was aiming to increase its current account and savings account size as well as planning to push retail operations in the segment. “Our home loan retail push will start after a couple of months when we have get our systems ready, because we are putting up centralised retail asset processing centres. Real growth in retail will take place next year,” he said.