Sunday , October 24 2021

Central Bank of India rises on inking pact with Indiabulls Housing Finance, IIFL Home Finance

Central Bank Of India is currently trading at Rs. 23.35, up by 0.35 points or 1.52% from its previous closing of Rs. 23.00 on the BSE.

The scrip opened at Rs. 23.70 and has touched a high and low of Rs. 24.45 and Rs. 23.10 respectively. So far 3167926 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 26.40 on 19-Feb-2021 and a 52 week low of Rs. 10.04 on 19-Oct-2020.

Last one week high and low of the scrip stood at Rs. 24.45 and Rs. 18.55 respectively. The current market cap of the company is Rs. 19966.16 crore.

The promoters holding in the company stood at 89.78%, while Institutions and Non-Institutions held 4.31% and 5.91% respectively.

Central Bank of India has entered into co-lending partnerships with Indiabulls Housing Finance and IIFL Home Finance. Under this arrangement, non-banking finance companies (NBFCs) will originate and process retail home loans while Central Bank of India will take into its book 80 percent of the housing loan under direct assignment transactions.

The partnership will result in a greater disbursement of housing loans by the Central Bank of India, Indiabulls HFL, and IIFL HFL. NBFCs will service the loan account throughout the life cycle of the loan. This arrangement will help all three players expand their reach across India.

Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.

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