Central Bank of India is planning to sell its entire 64.40 per cent stake in its housing finance subsidiary - Cent Bank Home Finance (CBHFL), as bank is facing operational curbs under the Reserve Bank's (RBI) prompt corrective action (PCA) framework. The lender has floated a request for proposal (RFP) for appointing merchant bankers. The shortlisted bankers will help the lender scout for a potential investor to buy its stake in the mortgage financier.
The home loan financier has presence in nine states through 18 branches. Bank holds 64.40 per cent in the unlisted housing finance company, while the remaining stake is held by Housing & Urban Development Corporation (HUDCO), Unit Trust of India (UTI) and National Housing Bank (NHB).
Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.
