MUMBAI, NOVEMBER 12, 2019 (GPN) : Shriram Housing Finance Limited (SHFL) a subsidiary of Shriram City Union Finance (SCUF) has raised sanctions to the tune of Rs. 680 crores from various public and private sector banks along with NHB. SHFL has also completed its maiden PTC transaction with ICICI Bank which has been rated AAA (SO).

The company received Rs. 100 cr each from Indian Bank and UnitedBank of India, Rs. 150 cr from Canara Bank (securitization deal), Rs. 150 cr from Syndicate Bank (term loans), Rs. 50 cr from ICICI via a pass through certificate (PTC) and Rs. 130 cr from National Housing Bank (NHB) through a re-finance scheme.

Mr. Ravi Subramanian, Managing Director & CEO, Shriram Housing Finance said, ‘We are happy with the confidence that the market has shown in us. Despite market challenges, SHFL has not only been able to fulfil its liability obligations but also has been able to generate fresh business, without compromising on portfolio quality’. For all the loans originated from October 2018 till date, there has not been a single delinquent account, he added.

With over 3,000 branches of the Group across the country and millions of new customers’on boarded every month, Shriram Housing Finance Limited plans to tap the potent opportunity for cross-selling home loans. The company plans to leverage the Groups distribution strength to cater to the needs of the exclusive set of group customers. ENDS