Financial Daily
from THE HINDU group of publications
Sunday, November 04, 2001
|
Financial Daily from THE HINDU group of publications Sunday, November 04, 2001 |
||
|
|
||
|
• COMMODITIES • CORPORATE • NEWS • VARIETY • INFO-TECH • CATALYST • INVESTMENT WORLD • MONEY & BANKING • LOGISTICS |
News
| Next
| Prev
UTI Bank deal with Shriram group
Our Bureau
MUMBAI, Nov. 3
UTI Bank has purchased a pool of commercial vehicle loan portfolio of Shriram group for a consideration of Rs 19 crore.
According to bank officials, the Shriram group has assigned the future cash flows of the selected pool and has also transferred the entire interest, ownership and clear title and rights to these assets in favour of UTI Bank.
``The deal is one with shades of both corporate and retail banking as its involves purchase of assets from corporate after usual due-diligence, security creation and credit enhancement to mitigate credit risk and accounting as retail assets in the books
of the bank,'' said one official.
The Shriram group would continue to do the client servicing, collection of receivables and management of the pool.
|
|
|
Comment on this article to BLFeedback@thehindu.co.in
Send this article to Friends by E-Mail
Next: Allahabad Bank hopes to recover Rs 400 cr Prev: MUL `True Value' plans promos News Commodities | Corporate | News | Variety | Info-Tech | Catalyst | Investment World | Money & Banking | Logistics | Copyright © 2001 The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line. |