The Hindu Business Line : BHW has big plans for Birla Home Finance

GERMAN home finance major BHW Holding, which in the process of increasing its stake in Birla Home Finance Ltd from 50 per cent to 100 per cent, plans to expand its customer base to 5,00,000 in the next five years.

Birla Home Finance, which is expected to become a fully-owned subsidiary of the German company by next month, claims that it offers the lowest floating interest rate of 7.25 per cent across all maturities in the country and already has over 50,000 customers with an asset base of over Rs 400 crore.

"We are a pure-play home finance company. BHW has been in the business for over 75 years. We are sure that with the expertise of BHW and the reach of Birla Home Finance, we will be able to offer best service to our customers," the BHW Group Chairman, Mr Reinhard Wagner, told reporters on Wednesday.

BHW, which has an asset base of 115 billion euro and a customer base of 3.6 million, had recently concluded an agreement with the K.K. Birla flagship Chambal Fertilisers and Chemicals Ltd, to take over Birla Home Finance.

In India, the company has 14 branch and 24 satellite offices with a combined sales force of over 700 executives. The company also offers an `Easy Home Loan Deposit' scheme that enables subscribers to invest with the company with the assurance of a subsequent home loan.

More Stories on : Housing Finance | Mergers & Acquisitions

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