When ICICI Bank announced a new home loan product that offers repayment option at fixed rates for the first 2 years, many rivals raised an eyebrow at the "teaser rate" implications. Will this move force other banks to follow suit? ....
When ICICI Bank announced a new home loan product that offers repayment option at fixed rates for the first 2 years, many rivals raised an eyebrow at the "teaser rate" implications. Will this move force other banks to follow suit? Speaking to CNBC-TV 18, Keki Mistry, Vice Chairman and CEO, HDFC --one of the closest rival in the home loan segment-- said they too have plans in the drawing board, but refused to divulge details.
Kanodia says Cignex is a profit making company with 10% EBITDA and also has corporate blue-chip companies as their clients. "With this deal we expect this year to be up at about somewhere in the range of Rs 420 to Rs 450 crore and the bottom-line should be at 10%, approximately," he adds.
When ICICI Bank announced a new home loan product that offers repayment option at fixed rates for the first 2 years, many rivals raised an eyebrow at the "teaser rate" implications. Will this move force other banks to follow suit? Speaking to CNBC-TV 18, Keki Mistry, Vice Chairman and CEO, HDFC --one of the closest rival in the home loan segment-- said they too have plans in the drawing board, but refused to divulge details.
Kanodia says Cignex is a profit making company with 10% EBITDA and also has corporate blue-chip companies as their clients. "With this deal we expect this year to be up at about somewhere in the range of Rs 420 to Rs 450 crore and the bottom-line should be at 10%, approximately," he adds.
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