Bank of Baroda Kolkata/IBNS: Bank of Baroda has signed a MoU with CHFL for sourcing and financing the Housing loan borrowers under Co-lending Model (CLM) mechanism.
The MoU is signed today by Harshadkumar T. Solanki, General Manager, Mortgage and Other Retail Assets, Bank of Baroda and Sanjay Shukla; MD and CEO of CHFL.
CHFL is a housing finance companines providing long term housing finance to 'middle class' India with its presence in tier II and III cities who are under-served by traditional lenders / Banks.
Speaking on the occasion, Harshadkumar T. Solanki, General Manager, Mortgage & Other Retail Assets, Bank of Baroda said, “This tie-up opens up multiple opportunities for both institutions. The Bank will be able to penetrate deep into the markets of tier 2 & tier 3 cities at very competitive rates. Bank would be able to garner more and more housing loan segment business to the extent of Rs1000 Crore in one financial year.
Sanjay Shukla– MD and CEO, CHFL said “We welcome Bank of Baroda as one of our partners and believe in collaborative approach leveraging each other's strengths to maximize the credit flow to underserved and unserved segments."
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