Search
PNB Housing eyes 22pc growth in fresh loan disbursements
August 03, 2023
PNB Housing Finance expects a 22 per cent growth in fresh loan sales this fiscal, according to a top executive. The company, promoted by Punjab National Bank, has an aggressive growth plan and has set an internal target of crossing the ₹1 lakh crore-mark on the assets side in the next three to three-and-a-half years.
In the June quarter, PNB Housing Finance saw its retail loans, which is 94 per cent of its assets, growing 11 per cent to ₹56,978 crore. The assets stood at ₹60,395 crore, which was 5 per cent more than the year ago quarter.
Girish Kousgi, the managing director and chief executive, said that first quarter is traditionally a tepid for mortgage lenders.
“We’ve a loan sanction guidance of 17-18 per cent and disbursement target of 22 per cent for the full year, as normally home loan demand picks up from the second quarter and peaks in the third quarter.
“And I am pretty confident of meeting the targets, and we have already started the second quarter on a strong note,” Kousgi told in an interview.
Kousgi said his optimism is mainly due to the exit of HDFC from the market, saying that will help more on the funding side. In fact, there is a great opportunity on the liability side and also on the lending side, he added.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://ask.careers/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/
- Mumbai: https://ask.careers/cities/mumbai/
- TSCFM: https://ask.careers/institutes/tscfm/
