- Co-lending partnership with KVB opens up new business
opportunities by enabling access to new customers for both KVB and Chola
- The model not only allows both companies to
scale their portfolio effectively but also uses an effective composite
risk management framework that inculcates the risk appetites of both
companies
Chennai, India. March 11, 2021— Karur Vysya Bank the leading private sector
bank, and Cholamandalam
Investment and Finance Company Limited (Chola), the financial services arm of the Murugappa Group, jointly
announced that they have successfully
launched Co-lending business in partnership.
The co-lending model is a great opportunity for banks and NBFCs to draw upon each other’s strengths. Co-lending business will significantly help Chola and Karur Vysya Bank to expand their reach to new customer segments across the country where Chola has a stronger presence to target high value loan segments such as construction equipment and Commercial vehicles.
Sharing his thoughts on the same, Mr. Ravindra Kundu (Executive Director, Cholamandalam Investment and Finance Company Limited) said, “Our mission at Chola is to enable our customers enter a better life and we continue to innovate to deliver this. We strongly believe our co-lending partnership with KVB will help us garner market share across segments of customers due to our stronger presence throughout the country. Co-lending is a new direction for Chola but we are confident that this will soon evolve into a very fruitful partnership model for KVB and Chola.
Mr. Natarajan J (President and Chief Operating Officer, Karur Vysya Bank) said, “Chola enjoys a unique position in the industry today due to its strong customer relationship built over four decades and reliance on an inherent value system. The partnership will help the Bank expand its commercial customer base and also provide upselling and cross selling opportunities.
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