Standard Chartered Bank is looking at picking up the mortgage and auto loan portfolio of non-banking finance companies (NBFCs) and banks.
The bank has already picked up portfolios worth around Rs 150 crore in these two sectors.
"We will selectively evaluate good portfolios which meet our criteria, and pick up mortgage and auto loan portfolios. We have done a few deals in these two sectors," said StanChart India's head, consumer banking, Vishu Ramchandran.
More From This Section
He said: "Our core strategy is organic growth. The purchase of portfolios will be selective, which fulfills our criteria and would be only in the markets we operate."
The bank currently offers auto loans in 26 countries and mortgage loans in 6 cities.
Standard Chartered Grindlays had kicked off talks to sell off its Simla and Darjeeling branches.
"We have received expression of interest from a few private sector banks," said Ramchandran. He took over as the head of consumer banking in India after Harpal Duggal, StanChart's general manager and chief executive officer of consumer banking, went on leave.
Duggal is expected to take over as global head of business value leadership strategy in Singapore shortly.
The bank has received responses from 198 employees for its third voluntary retirement scheme (VRS) which was launched for the staff of StanChart Grindlays. The bank has got 592 applications for the second and third VRSs together. It is expected to launch two new VRSs which would be targeted at the StanChart staff in November.
StanChart and StanChart Grindlays today launched its international debit card on the Visa Electron platform.
The group has also launched "aXcessPlus", a new savings account along with the debit card. Speaking at the launch of the card, StanChart's head (wealth management), Vikram Issar, said the card would allow customers access ATMs free of charge up to four cash withdrawals.
"From the data which was available with us on the spends by customers, we felt that the bank could offer free withdrawals to these customers and even then make a profit as the interchange fees of banks were coming down," said Issar.
The bank is also offering a host of insurance features on the debit card which includes zero-cost liability up to Rs 50,000, purchase protection and personal accident insurance.