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ICICI Bank to keep home finance as standalone arm, drops plan to sell stake

While most banks and their housing finance arms tend to step on each other's toes, ICICI Home Finance wants to target profiles that its parent bank seems to be overlooking

The HFC's loan book currently stands at  ~ 100 billion and the company aims to triple it to Rs 300 billion in three-four years
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The HFC’s loan book currently stands at ~ 100 billion and the company aims to triple it to Rs 300 billion in three–four years

Nikhat Hetavkar Mumbai
ICICI Home Finance will continue to be the wholly owned subsidiary of ICICI Bank, as the bank has dropped plans to sell its stake. Additionally, the housing finance company (HFC) is looking to expand into spaces that the parent bank has not penetrated. It will now provide home loans to customers with self-assessed income.

“ICICI Home Finance was always seen as an extension of the bank. But, now we are moving towards a separate subsidiary,” said Anup Bagchi, executive director, ICICI Bank and added that their processes and credit policies were different from the bank.

The HFC’s loan book currently

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