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PNB Housing Finance eyes 17-18% growth in retail loan book over next couple of years

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Girish Kousgi, MD & CEO of PNB Housing Finance also expects liquidity easing measures and a possible rate cut from the Reserve Bank of India (RBI) by February 2024, which could further support growth in the sector.
PNB Housing Finance is targeting a 17-18% growth in its retail loan book over the next couple of years, as stated by Managing Director Girish Kousgi. This growth strategy comes in the wake of a 10% increase in the retail loan book during the first nine months of the fiscal year 2024, despite a slight dip in the corporate loan segment. The company has also seen a significant reduction in its gross non-performing assets (NPAs) from 3.85% to 1.78% and net NPAs from 2.72% to 1.15% over the same period. Additionally, PNB Housing Finance has raised Rs 2,494 crore through a rights issue to bolster its capital base, aiming to support this expansion. The focus on retail lending, particularly in affordable housing, is part of a broader strategy to diversify and strengthen its loan portfolio.

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[ https://www.cnbctv18.com/business/companies/pnb-housing-finance-eyes-17-18-growth-in-retail-loan-book-over-next-couple-of-years-19519181.htm ]