LIC Housing to cut funding cost

LIC Housing Finance Ltd is keen on reducing its funding cost by going in for NCDs (non-convertible debentures) rather than bank borrowings. “Last year, we brought down our bank borrowings from 29 per cent to 25 per cent, which is expected to improve our net interest margin from the present 2.18 per cent to 2.25 per cent next year,” said Sunita Sharma, Managing Director and CEO, LIC Housing Finance Ltd. She was here to inaugurate the 17th edition of annual property expo. Attributing the growth to increasing demand from the retail segment, she said the company would focus on Loan Against Property ( LAP) generating more business.

Source : The Hindu