Indiabulls Housing & Yes Bank enter into a strategic co-lending partnership

NEW DELHI: Indiabulls Housing Finance and Yes Bank have entered into a strategic co-lending agreement to offer home loans to homebuyers, the company said in a media release.

Rajan Pental, global head (Retail Banking), Yes Bank said, “This is in line with bank’s strategy of expanding its retail franchise through a mix of organic and partnership-led origination model.”

Gagan Banga, vice chairman & CEO, Indiabulls Housing Finance said, “We can now leverage Yes Bank’s deposit-led franchise and complement that with our technology-led distribution to provide efficient solutions around home Loans to a wide gamut of customers across geographies, ticket-size and yield spectrum, to give us balance-sheet light growth and profitability.”

The co-lending framework laid down by Reserve Bank of India provides a collaboration tool to benefit from the low-cost funding model of a bank and the cost-efficient sourcing and servicing capabilities of a non-bank.