Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
J&K Bank has partnered with two Non Banking Financial Companies to expand its home and gold loan business beyond Jammu and Kashmir. The bank signed co-lending agreements with Home First Finance Company India Limited for home loans and with IIFL Finance for gold loans. The partnerships will combine the bank's strong deposit base and branch network with the NBFCs expertise in credit delivery. Bank officials expect these collaborations to accelerate loan distribution, reach new customer segments, and enhance financial inclusion in emerging markets.
J&K Bank has recently signed co-lending agreements with two NBFCs to expand its retail lending operations in home and gold loans beyond its core region of Jammu and Kashmir. The bank entered into a memorandum of understanding with Home First Finance Company India Limited to focus on home loans and another with IIFL Finance for gold loans. Advertisement
These agreements were formalized at the bank's Jammu Zonal Office with senior officials from all three institutions in attendance. The bank's Managing Director and CEO, Amitava Chatterjee, explained that the colending model allows the bank to leverage its strong deposit base and extensive branch network while tapping into the NBFCs specialised lending expertise and faster credit processing.
Executive Director Sudhir Gupta added that these partnerships are expected to generate strong synergies, enabling the bank to extend credit responsibly to a wider customer base. The bank's General Manager, Rakesh Magotra, noted that the collaboration is strategically important for expanding credit outreach in housing and gold loans, including to small businesses.
Representatives from Home First Finance and IIFL Finance highlighted the benefits of joining forces with J&K Bank, pointing out that the bank's credibility and growing presence in emerging centres make it a suitable partner for co-lending. The partnerships are part of J&K Bank's broader strategy to strengthen its retail portfolio and improve access to credit for home buyers and gold loan borrowers outside the Union Territory.
Officials believe that combining the bank's network with the NBFCs technological and operational efficiencies will improve credit delivery timelines, attract new customers, and support financial inclusion initiatives. The collaborations are expected to increase the bank's lending volume and help it reach markets that were previously underserved.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
