Edelweiss to transfer wholesale loans worth Rs 2,000 crore to AIF

To halve corporate loans book in two years

Edelweiss Financial Services will transfer wholesale loans worth Rs 2,000 crore to Alternate Asset Fund for real estate completion financing as it shrinks corporate credit portfolio by 50-60 per cent over the next two years.

Its corporate loan book stood at over Rs 16,100 crore at the end of September 2019. Out of this, the wholesale book comprised of Rs 11,000 crore and balance was structured finance portfolio.

Rashesh Shah, chairman and chief executive, EFSL said it – the deal with Korean Investor for Alternate Asset Fund -- is very timely as a lot of real estate projects (economically viable)