PNB Housing aims to bring corporate loan book below Rs 10k Cr by March 2022

PNB Housing Finance is targeting to reduce its corporate loan book to below Rs 10,000 cr by the end of this fiscal as it seeks to focus more on retail lending activities, according to a top official.

According to a top company official, PNB Housing Finance aims to lower its corporate loan book to below Rs 10,000 crore by the end of this fiscal year to focus more on retail lending activities.

Corporate lending accounted for 15% of the company’s Asset Under Management (AUM) at the end of the first quarter of 2021-22, with the latter reaching Rs 71,828 crore during the same period.

PNB Housing Finance’s loan assets, on the other hand, fell to Rs 60,438 crore at the end of June this year, down from Rs 68,009 crore the previous year.

The second COVID wave has impacted the company’s business, which is sponsored by the state-owned Punjab National Bank (PNB).

“We were able to lower the book by roughly Rs 800 crore in terms of corporate debt this quarter (June 2021). (lending). We’d aim to reduce it to less than Rs 10,000 crore by March 2022, “PNB Housing Finance’s Managing Director and CEO, Hardayal Prasad, told PTI in an interview