Centurion to tap SSI assets

Centurion Bank, which was recapitalised recently, said it will look at securitising its SSI portfolio to augment its CAR. The move follows recent policy announcements that call for treating SSI assets as priority for securitisation.

MD Shailendra Bhandari said at the Karnataka launch of the bank's bancassurance products, "It is an opportunity, as we have a significant SSI portfolio spanning commercial vehicles and two-wheelers." Centurion has already securitised about Rs 130 crore of its two-wheeler loans in two tranches, this fiscal.

Speaking on other initiatives, he said that the bank will enter the portfolio management services segment soon.

With such extensions underway, he said, the bank will go ahead with the Rs 50 crore tier-II capital issue before this fiscal-end. This is expected to take up the CAR past 11 per cent from 9.5 per cent now.