Bank of Maharashtra is in talks with three to four non-banking finance companies (NBFCs) for co-lending partnership, said Managing Director and Chief Executive Officer Nidhu Saxena.
"We have around six to seven partnerships and another three to four partnerships are under discussion at various stages, which we will be onboarding very soon," Saxena said during post- earnings conference call.
He further said that the bank has been growing its co-lending book, which has gone up to almost Rs 2,000 crore. "For this, what we have identified NBFC double A and above rated."
Saxena said that the bank wants to grow this co-lending book in a major way in this financial year, and the entire portfolio is a high yielding portfolio for the bank and is well managed through the technology part of it.
Further, Bank of Maharashtra has submitted the request with the regulator for tie-up opportunity in the GIFT city, Saxena said.
The bank has received approval from the board and they are in discussion with the regulator.
"There will be a lot of opportunities opening for doing some ECBs or participating in some global syndications, which are there in our thought process and I think that with GIFT City’s formal application already launched with the regulator, this approval will be granted for opening an outlet (of the bank)," Saxena said.
Earlier on Tuesday, the lender reported a 44.28 percent jump in consolidated net profit at Rs 1,327.08 crore in the second quarter of FY25, compared to Rs 919.75 crore in the year-ago period, a stock exchange filing showed.
The bank's net profit stood at Rs 1,293.68 crore in the first quarter of the current financial year.
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