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Last Updated : Jan 11, 2019 10:54 PM IST | Source: CNBC-TV18

Expect cost of funds to come down after merger with Gruh Finance: Chandra Shekhar Ghosh

Ghosh further said that they cannot reclassify promoter holding or change tier-3 structure to comply with RBI norms.

CNBC TV18 @moneycontrolcom

Bandhan Bank reported a growth of 10 percent in its net profit for December quarter at Rs 331.3 crore. Chandra Shekhar Ghosh, Managing Director and CEO of the bank, spoke to CNBC-TV18 about the results and Gruh Finance merger.

"We have been focused on microfinance, affordable housing and micro, small and medium enterprises (MSMEs). Housing is a big opportunity with government’s housing for all thrust," Ghosh said on January 11.

Talking about Bandhan Bank's acquisition of HDFC Ltd-owned Gruh Finance, Ghosh said, "The Gruh model under Sudhin Choksey as usual, we will transfer to eastern region including north east and provided that credit, which we know our customers, we know the credit flow, credit history is there. So there is a big opportunity of business. We are looking to go in that way."

Ghosh further said that they cannot reclassify promoter holding or change tier-3 structure to comply with RBI norms.

On the business front, he said, "We are going to affordable housing and not in housing; for that big companies are there."

"We expect cost of funds to come down post-merger with Gruh Finance," added Ghosh.

Source: CNBC-TV18
First Published on Jan 11, 2019 02:00 pm
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