Comments
Non-banking financial company Fullerton India received Rs 150 crore capital from its parent company, Fullerton Financial Holdings.
“The funds received will be used for investment in the company’s housing finance subsidiary — Fullerton India Home Finance Company and for the future growth requirements of Fullerton India,” Fullerton said in a statement.
Shantanu Mitra, Managing Director and CEO, Fullerton India said, “The investment from our parent company is a boost to our lending business in India. Through this investment we will be further able to meet the needs of our customers across housing finance and other credit instruments.”
Fullerton India, in its half-yearly financial results for FY15-16 posted a 64 per cent increase in its profit. Its assets under management (AUM) grew by 37 per cent and loan disbursals increased by 30 per cent.
The company currently employs over 7,600 employees across 445 branches, with nearly 60 per cent of the workforce serving their rural business. Servicing a customer base of over 12 lakh, Fullerton India’s product portfolio includes loans against property, SME and business loans, commercial vehicle and two-wheeler loans, personal loans, rural livelihood loans, and rural mortgage.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.