Date:28/01/2007 URL: http://www.thehindu.com/2007/01/28/stories/2007012819330400.htm

Karnataka - Bangalore

LIC Housing Finance to open new offices in city

Staff Reporter

BANGALORE: LIC Housing Finance Ltd. is planning new offices in Vijayanagar, Whitefield and Kengeri.

Its regional manager P.R. Shankara Raju said here that the aim was to expand activities in the city.

He said the company had area offices at Rajajinagar, Indiranagar, J.P. Nagar, Hayes Road and on Infosys campus. The Hayes Road and Indiranagar offices stood first and second respectively in terms of total business in Karnataka.

The Bangalore offices recorded a growth of 36 per cent in loan sanction and 46 per cent in disbursement for the nine months ending December 31. The south central region comprising Andhra Pradesh and Karnataka had sanctioned Rs. 885 crore and disbursed Rs. 784 crore worth loans in the nine months, registering a 16 per cent growth over the same period last year. The region had 10 area offices in Karnataka and 15 in Andhra Pradesh. The region was poised to achieve a growth rate of 30 per cent this fiscal, Mr. Raju added.