PNB Housing Finance stake sale talks at 'advanced stage', says Punjab National Bank
Sunil Mehta, MD & CEO of Punjab National Bank (PNB), spoke to CNBC-TV18 about the lender's profit margins and plan to sell non-core assets.
Sunil Mehta, MD & CEO of Punjab National Bank, spoke to CNBC-TV18 about the lender's profit margins and stake sale plan of PNB Housing Finance.
"Margin can be maintained by adjusting the cost of funds on retail loans", Mehta said on Friday.
Talking about buying NBFC loans, he said, “We have already purchased portfolio aggregating Rs 1,500 crore and we have a plan to purchase up to Rs 4,000-5,000 crore during the current financial year.”
On the asset sale front, Mehta said, “By the end of this financial year, we have already planned sale of non-core assets and we are expected to mobilise roughly more than Rs 6,000 crore during the current financial year.”
When asked about PNB Housing Finance, he said, "A lot of investors have shown interest in it. We are at an advanced stage of talks with regards to stake sale in PNB Housing Finance."
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