The Chairman of Central Bank of India has indicated that his bank expects to see its home loan portfolio to grow by over 25% in the current fiscal. At present home loans contribute around 8000 crore to the 92000 crore loan book that the bank holds. This works out to around 8.6% share for home loans.
The bank wants to see the same rise to at least 9.5% by the end of the current financial year. The bank has also started its retail gold scheme. The bank will be selling 5gm and 10 gm imported Swiss gold coins from its Mumbai branch. The Managing Director of the Bank Mr. S. Sridhar was talking along the sidelines of a function organized to launch the gold scheme.
The bank is expected to get very aggressive in the home loan market once its systems are completely in place. The bank is currently pursuing a huge project of strengthening its back-end and also setting up centralized processing centers. The bank expects its home loan portfolio to grow exponentially next year once the entire back end support is fully functional.