The Bank of Baroda signs a joint loan agreement with JM Financial Home Loans
CHENNAI Baroda Bank has entered into a strategic co-loan Agree with JM Financial Home Loans Limited (JMFHL), the housing finance subsidiary of JM Financial Limited, for offering retail loans to homebuyers.
The association will create an effective lending model synergising the expertise of both Baroda Bank and JMFHL to provide a seamless experience to retail mortgage loan customers.
Speaking on the partnership, Vikramaditya Singh Khichi, executive director of Baroda Bank , said, “There is a huge potential in the retail mortgage loan space that can be tapped through co-loan partnerships between large organisations like Baroda Bank and finance players like JM Financial Home Loans . With the bank’s expertise in mortgage loan processing and low cost of funds, we are confident that this partnership will accelerate credit delivery to homebuyers, thus boosting the home buying segment.”
S Vishal Kampani, managing director, JM Financial Group, said, “We are extremely pleased to enter into a partnership with Baroda Bank to mutually benefit from co lending activities. We are proud of our existing relationship with Baroda Bank and this co-loan partnership will further boost our relationship. There is a lot of complementarity in our franchises which will help in providing a compelling offering to the retail mortgage loan customers.”