After rate cut, Bank of Baroda eyes bigger home loan pie

On Monday, BoB slashed home loan rates by 70 basis points to 8.35%

After announcing lowest lending rate on home loan in industry, public sector lender Bank of Baroda (BoB) is turning aggressive to grow its housing loan portfolio. It expects to disburse about Rs 2,500 crore in the fourth quarter of this financial year, ending March.

Besides lowering interest rate, bank has re-hauled processes, technology support and communication for retail business in the past few quarters.

“This should help us substantially scale up business in the coming quarters,” said a senior BoB executive.

Its annual growth in home loans was 11.58 per cent for the 12 months ended September, 2016, with an