Mumbai, 9th December 2021: Bank of Baroda has signed a MoU with CHFL for sourcing and financing the Housing loan borrowers under Co-lending Model (CLM) mechanism . The MOU is signed today by Mr. Harshadkumar T. Solanki, General Manager, Mortgage and Other Retail Assets, Bank of Baroda and Mr. Sanjay Shukla; MD and CEO of CHFL.
CHFL is one of the leading new age housing finance companines providing long term housing finance to 'middle class' India with its presence in tier 2 & 3 cities who are under-served by traditional lenders / Banks.
Speaking on the occasion, Mr. Harshadkumar T. Solanki, General Manager, Mortgage & Other Retail Assets, Bank of Baroda said, “This tie-up opens up multiple opportunities for both institutions. The Bank will be able to penetrate deep into the markets of tier 2 & tier 3 cities at very competitive rates. Bank would be able to garner more and more housing loan segment business to the extent of Rs1000 Crore in one financial year.
Mr. Sanjay Shukla– MD and CEO, CHFL said “We welcome Bank of Baroda as one of our partners and believe in collaborative approach leveraging each other's strengths to maximize the credit flow to underserved and unserved segments."
About Bank of Baroda:
Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial Bank in India. At 63.97% stake it’s majorly owned by Govt of India. Bank serves its global customer base of over 140 Mn through over 46,000 touchpoints spread across 19 countries in 5 continent. Through Its state of the art digital banking platforms it provides all the banking products and services in a seamless and hassle-free way. Recently launched bob World mobile app provides customers with saving, investing, borrowing and shopping experience, all under one single app. The app also serves non customers by enabling account opening through video KYC. Bringing about a vision that matches the diverse clientele base and to instill a sense of the trust and security has been the paramount factor for Bank of Baroda. Its moving well in that direction and bob World has been a testimony for its roadmap towards Digital Transformation.
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