PNB Housing Finance to develop $100 mn from JICA, Citibank

The corporate has signed an settlement with JICA to develop USD 75 million and with Citibank for USD 25 million, a originate stated.

PNB Housing Finance stated it has signed an settlement with Japan World Cooperation Agency (JICA) and Citibank to develop USD 100 million (about Rs 762 crore) for offering loans in the more affordable housing phase.

The corporate has signed an settlement with JICA to develop USD 75 million and with Citibank for USD 25 million, a originate stated.

“We explicit our gratitude to JICA and Citi for partnering with us of their slither in opposition to enhancing the lives of low-earnings households and selling sustainable economic enhance in India. This might per chance per chance be JICA’s first debt funding in the housing finance sector in the nation,”company’s managing director Sanjaya Gupta stated.

Its CFO Kapish Jain stated these are lengthy-time frame loans of 5 years that might per chance per chance extra support in balancing the company’s asset approved responsibility management (ALM) station.

As on March 31, 2020, it maintained adequate liquidity of round Rs 7,588 crore (no longer brooding concerning the SLR investments) and has extra sanctioned but undrawn funding traces of Rs 3,994 crore.

On the industry entrance, it closed 2019-20 with resources under management of round Rs 84,000 crore with deposit mobilization of round Rs 9,200 crore.

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First Published on Apr 7, 2020 08: 15 am

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