Anil K Khandelwal, executive director, Bank of Baroda, has taken over as the chairman of BOB Housing Finance Ltd.
The housing finance company has declared a 12 per cent dividend to its shareholders for the year 2000-01.
Khandelwal said the BOB Housing Finance was exploring alternate sources of funding from institutions such as International Finance Corporation (IFC), International Bank for Reconstruction and Development (IBRD) and Asian Development Bank (ADB) to raise borrowings at low cost.
It also plans to enter the field of consumer credit to the existing borrowers for improving its profitability and for exploring possibilities of entering into synergic options like joint ventures.
The housing finance company is also contemplating to mobilise public deposits for which it has been granted 'MAA' rating signifying high safety by Icra. The company also plans to increase its network by opening up branches in Kolkata, Aurangabad, Gurgaon and Chandigarh. The disbursements for the quarter ended June 2001 have been to the tune of Rs 32.36 crore.
