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UAE Exchange India, a global financial services provider, has launched ‘loan against property’ to expand its business portfolio.
“We have started this month with three regions in Kerala. Once we see traction in these three regions, we will look at expanding to other parts of the country,” said V George Antony, Managing Director and Country Head of UAE Exchange India. Currently, the bank manages gold loans worth ₹250 crore, and personal, micro, small and medium sector enterprise loans of 75 crore each.
Antony added that lending, accounting for 40 per cent of its total business, is expected to touch ₹600-700 crore during the year, up from ₹400 crore now. The company has also taken its foreign exchange business on the online platform.
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