YES BANK and Indiabulls Housing Finance Limited enter into a strategic co-lending partnership
Chennai, July 28, 2021: YES BANK and Indiabulls Housing Finance Limited have entered into a strategic co-lending agreement to offer home loans to homebuyers at competitive interest rates. The partnership aims at synergizing capabilities to provide an efficient and seamless experience to retail home loan customers.
The co-lending framework laid down by Reserve Bank of India provides a collaboration tool to benefit from the low-cost funding model of a bank and the cost-efficient sourcing and servicing capabilities of a non-bank.
Rajan Pental, Global Head – Retail Banking, YES BANK said, “We are pleased to partner with Indiabulls Housing Finance Limited. This is in line with YES BANK’s strategy of expanding its retail franchise through a mix of organic and partnership-led origination model. The Bank is looking forward to further build a profitable and quality home loan portfolio through this partnership.”
Gagan Banga, Vice Chairman & CEO, Indiabulls Housing Finance Limited said “We can now leverage YES BANK’s deposit-led franchise and complement that with our technology-led distribution to provide efficient solutions around home Loans to a wide gamut of customers across geographies, ticket-size and yield spectrum, to give us balance-sheet light growth and profitability.”
About YES BANK
YES BANK is a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.
YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 8 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/.
About Indiabulls Housing Finance Limited
Indiabulls Housing Finance Ltd. (IBHFL) is one of India’s largest housing finance company with a balance sheet size of 0.93 Trillion as of 31st March 2021. Rated ‘AA’ by CRISIL and ICRA, the company has serviced more than 1 million customers and cumulatively disbursed loans of over ₹ 2.84 Trillion.
For more Information, please contact:
Yes Bank
Indiabulls Housing Finance
Vidish Kenia, +91 9819378011
