Central Bank of India to sell stake in housing finance arm

Reported by: |Updated: February 24, 2020

Central Bank of India is mulling to sell its entire 64.4% stake in its housing finance subsidiary Cent Bank Home Finance. The bank is appointing merchant bankers to help it identify a potential investor who can buy its stake in the housing finance arm. Pallav Mahapatra, MD and CEO of the bank, confirmed that the bank is proposing to exit the home finance arm as the bank is already providing housing loans. Hence there is no need to have a housing finance subsidiary, he added. The other stake holders in the housing finance company as HUDCO, Unit Trust of India and National Housing Bank. Cent Bank Home Finance is headquartered at Bhopal.