Gold Loan Portfolio Set to Surpass Rs 1.5 Lakh Crore by FY27: Indian Bank MD
Indian Bank expects its gold loan portfolio to exceed Rs 1.5 lakh crore by the end of FY27, according to MD and CEO Binod Kumar.
The bank's gold loan book currently stands at around Rs 1.25 lakh crore, with a projected growth rate of 20% this year.
Kumar attributed the robust demand for gold loans to their income-generating potential and ability to support small businesses.
He noted that while last year saw significant growth of 30%, driven by rising gold prices, this year's growth is expected to be slower due to a decline in gold prices.
In other news, Indian Bank has mobilized USD 400 million through the issuance of four-year bonds to global investors via its GIFT City Branch, as part of its plan to raise USD 1 billion from overseas markets by the end of 2026.