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Our Bureau

Kochi, Nov. 25 While the country continues to grapple with the economic slowdown and commercial vehicle sales are on a downswing, IndusInd Bank sees a 30 per cent growth in commercial vehicle loans. With interest rates firming up and other banks shying away from the commercial vehicle loan portfolio, the demand is increasing. Addressing a press conference, Mr Paul Abraham, Chief Operating Officer of IndusInd Bank, pointed out that with commercial loan portfolio increasing from Rs 300 crore a month last year to Rs 400 crore a month this year, the bank should clock a 30 per cent growth in this segment this year.

Remittances transactions conducted through the bank have also risen sharply in the recent past, with the month of October registering a three-fold increase over the same month last year, he said.

The prime reason for this sustained growth and hardly any defaults in the vehicle loan portfolio is due to the rigorous scrutiny of the repayment capacity of the applicants and the fact that the same person who approves the loan is entrusted with the task of scrutinising the progress in repayment as well. The bank has Rs 7,000 crore as disbursement to the commercial loan segment on an 8 lakh client base.

More Stories on : Credit Market | Private Banks

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