Business

Fares well in vehicle loan

KOCHI: In spite of the global meltdown and liquidity crunch in the financial sector, IndusInd Bank has registered 30 per cent growth in the commercial vehicle loan segment alone during the year, said Mr Paul Abraham, chief operating officer of the Bank at a press conference in Kochi on Monday.

He said while other new generation banks and public sector banks were shying away from going in for commercial vehicle loans, the IndusInd bank had been able to disburse commercial loans to the tune of Rs.7,000 crore to its eight lakh clients .

Loans for commercial vehicles alone had gone up to Rs.400 crore from Rs.300 crore a month during the year. Remittance transaction through the bank had also registered a sharp upturn and during October itself there was three-fold increase compared to last year, he said.

K.V.