PNB Housing Finance Limited has been Sanctioned INR 3,500 crores refinance facility from regulator National Housing Bank (NHB)
Deepthi | Myequity news | Date : 12-11-2018 11:30:00 IST
PNB Housing Finance Limited, India’s 5th largest Housing Finance Company by loan assets and 2nd largest by deposits, has obtained refinance sanction of INR 3,500 crores from the National Housing Bank (NHB) in October-2018. The funds will be utilised for the specific sector wise disbursements / end uses as per norms of the respective NHB refinance schemes.
Mr. Sanjaya Gupta, Managing Director, PNB Housing Finance Limited said, “We express our sincere gratitude to the National Housing Bank for their trust and believe in the company’s robust operations, with fresh sanction of INR 3,500 Crores of long term funding. This will not only strengthen the liquidity of the Company but also help in boosting the economic growth. The NHB refinance are of a maturity of up to 15 years hence shall help further enhance our ALM. This is yet another long-term source of borrowings followed to ECB of USD 200 million we raised in the current, challenging environment, driven by our strong fundamentals. With availment of these funds the share of long term borrowings will increase in the overall borrowings and aid our constant endeavour to keep short term money at levels of 12% and below. We wish to again reiterate that as on date the Company is very well placed both on liquidity and ALM position and continue to be cautiously optimistic” About PNB Housing Finance Limited:
PNB Housing Finance Limited is promoted by Punjab National Bank and is a registered Housing Finance Company with National Housing Bank (NHB). The Company got listed on the Indian stock exchanges on 7th November, 2016. The Company offers its retail customers “housing and non-housing loans”. The Company is also into construction finance loans to real estate developers. PNB Housing Finance is a deposit taking Housing Finance Company.