To woo youngsters, Catholic Syrian Bank, one of the oldest private sector banks in the country, intends to roll out a two-wheeler financing vertical from the New Year.

For most young people, two-wheeler loan is their first loan. The two-wheeler business will bring a new set of customers to the bank, which will open up avenues for cross-selling, thereby improving fee and other income, CVR Rajendran, MD and CEO, said.

The new vertical, replicating the NBFC model, will function like a strategic business unit (SBU) with the entire structure de-linked from the usual branch operations. Some new-generation banks are doing exceedingly well in this area and it is all about having the people and systems right, he told BusinessLine .

India, according to him, is the biggest market for two-wheelers and finance plays an important role in the purchase process. The bank is creating an exclusive vertical targeting aggressive volumes and has recruited some senior resources from the two-wheeler finance industry to drive this business. Customers will be given loan approvals in three minutes. The two-wheeler product will be driven by strong underwriting skills combined with an advanced technology platform.

The bank also plans to offer unique products and low interest rates to customers purchasing high-end racing bikes and super bikes.

Besides, the bank is also planning to enter into used-car finance. Reduction in average car ownership along with low penetration of finance in used-car sales throws up ample opportunities. CSB will build unique financing products and set up a separate focussed business vertical for financing used cars.

CSB is also looking to get a bigger share of the NRI remittance business.

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