{"id":93468,"date":"2018-10-09T23:36:42","date_gmt":"2018-10-09T23:36:42","guid":{"rendered":"http:\/\/www.bnreport.com\/dhfl-likely-sold-rs-5000-7000-crore-loans-to-sbi\/"},"modified":"2018-10-09T23:36:42","modified_gmt":"2018-10-09T23:36:42","slug":"dhfl-likely-sold-rs-5000-7000-crore-loans-to-sbi","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/dhfl-likely-sold-rs-5000-7000-crore-loans-to-sbi\/","title":{"rendered":"DHFL likely sold Rs 5,000-7,000 crore loans to SBI"},"content":{"rendered":"

Dewan Housing Finance is said to have sold about Rs 5,000-7,000 crore of its loans to the State Bank of India<\/a> (SBI<\/a>), a transaction that should help restore investor confidence in NBFCs currently battling tight liquidity conditions. <\/p>\n

The portfolio included small-ticket quality home loans, yielding regular repayments, three people familiar with the transactions told ET. The loan pricing may be partly higher (about 50 basis points) than the rate at which SBI offers to its own customers. <\/p>\n

\u201cDHFL has a large customer base and an expertise with such loans, which would now add value to SBIs large home loan portfolios,\u201d said one of the persons cited above. <\/p>\n

DHFL<\/a> and SBI did not reply to ETs query. Care and Brickworks rated the company triple-A. <\/p>\n

Debt market borrowing rates for such housing finance companies as DHFL should stabilise after the current liquidity crunch, dealers said. <\/p>\n

Earlier in the day, SBI said it would buy as much as Rs 30,000 crore of additional portfolio this fiscal, up from the initially planned Rs 15,000 crore. <\/p>\n

\u201cIt will boost investor confidence in the housing finance sector while encouraging other banks to adopt similar action,\u201d said a senior finance executive managing thousands of crores of public money. \u201cIt will certainly help ease the perceived liquidity pressure on housing finance companies.\u201d <\/p>\n

Market participants are wary of finance firms that are struggling to raise money from the debt markets. <\/p>\n

Several non-bank lenders, including housing finance companies, have slowed down loan disbursement and are deferring high-value loans, ET reported earlier on Tuesday. Industry growth could be down 200-500 basis points. <\/p>\n

"There is an inherent mismatch between asset and liability in all housing finance companies where average lending is for a period of 12-15 years while they borrow for 7-8 years,\u201d said Rajib De, former vice president at GIC Housing Finance. \u201cNaturally, the gap is filled by unutilised lines of credit from banks and other financial institutions," said De, who has now joined Inditrade Group to head its proposed housing finance subsidiary. <\/p>\n

On Monday, the National Housing Bank increased its refinancing facility to Rs 30,000 crore from 24,000 crore. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

[contf]
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ET Markets<\/a><\/h5>\n

[contfnewc]
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Dewan Housing Finance is said to have sold about Rs 5,000-7,..<\/p>\n","protected":false},"author":1,"featured_media":93469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-93468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nDHFL likely sold Rs 5,000-7,000 crore loans to SBI - Business News Report<\/title>\n<meta name=\"description\" content=\"Dewan Housing Finance is said to have sold about Rs 5,000-7,..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/dhfl-likely-sold-rs-5000-7000-crore-loans-to-sbi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DHFL likely sold Rs 5,000-7,000 crore loans to SBI - 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