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Central Bank of India shares gain on strategic tie-ups to widen portfolio
August 30, 2023
The public sector lender has entered into a strategic co-lending partnership with IKF Home Finance to offer MSME and home loans. IKF Home Finance manages assets totaling to ₹696.10 crore via operations in 6 states.
Also, Central Bank of India entered into a strategic co-lending partnership with Samunnati Financial Intermediation & Services to offer agriculture and MSME loans. Samunnati is functioning in 22 states, with AUM of ₹1,150 crore.
The Central Bank of India share price gained 1.5 percent in early trade on August 30 after the company entered into a co-lending partnership with IKF Finance, IKF Home Finance and Samunnati Financial Intermediation & Services.
At 9:19am, the Central Bank of India stock was quoting ₹35.65, up ₹0.54, or 1.54 percent, on the BSE.
The company has entered into a strategic co-lending partnership with Samunnati Financial Intermediation & Services Private Limited to offer agriculture and MSME loans at competitive rates.
The bank has also entered into a strategic co-lending partnership with IKF Home Finance Limited to offer MSME and home loans at competitive rates. Another strategic co-lending partnership has been forged with IKF Finance to offer MSME loans at competitive rates.
The participation in these co-lending arrangements will result in greater expansion of portfolio by the bank and other entities.
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