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Bank of Baroda, India’s second largest public sector bank, has entered into a strategic co-lending agreement with JM Financial Group’s housing finance arm JM Financial Home Loans Ltd (JMFHL) to provide retail loans to home buyers.
Vikramaditya Singh Khichi, Executive Director at Bank of Baroda, said: “There is huge potential in the retail home loan space that can be tapped through co-lending partnerships between large organisations like Bank of Baroda and finance players like JM Financial Home Loans. With the Bank’s expertise in mortgage loan processing and low cost of funds, we are confident that this partnership will accelerate credit delivery to homebuyers, thus boosting the home buying segment.”
“There is a lot of complementarity in our franchisees which will help in providing a compelling offering to the retail home loan customers,” Vishal Kampani, Managing Director, JM Financial Group said.
Bank of Baroda is India’s third largest bank with a distribution network of 9,500 branches, 13,400 ATMs and 1,200 self-service e-lobbies.
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