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