Mortgages offer silver lining for India's banks as business loans ebb
Home loans pose lower bad-debt risks for banks than corporate loans; smaller towns are driving demand
Mumbai/New Delhi
INDIA's banks, struggling to boost mainstay corporate loans, are finding a bright spot in a home-buying spree in the country's towns that has driven mortgage-loan growth to the fastest rate in at least six years.
Top lender State Bank of India (SBI), and two big private sector peers - ICICI Bank and Axis Bank - say demand for credit from smaller centres in the country is helping grow their overall home-loans books. Outstanding home loans in India stood at US$103 billion as at end-November.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Luxury private home rents jump in Q1 amid wider market slump: Huttons Asia
Evictions surge in Arizona with housing shortage and rising prices
China property shares firm after Politburo highlights clearing inventory
Dubai billionaire’s children plan to revive troubled world islands
UK commercial real estate lending plunges to lowest in a decade
Hybrid, flexible working set to curb Singapore office usage and rents