Capri Global Capital is looking to increase its gold loan mix to 20% of the overall loan book from 8% currently, said its managing director Rajesh Sharma.
“We continue to work towards broadening our product offering and intend to increase our gold loan business to change the mix to 20%,” he said.
“A good chunk of the underserved and underpenetrated segment in the northern, western and eastern regions of India has not been explored to its full capacity. We are focused on increasing our gold loan footprint more towards the north, west and eastern regions,” he added.
On March 31, the lender’s gold loan assets under management surpassed Rs 1,000 crore. It aims to open 750 exclusive gold loan branches by June.
Overall, the loan book stands at around Rs 8,653 crore. Of the overall loan book, micro, small and medium enterprises (MSME) finance constitutes 45%, housing finance 26%, gold loan around 8% and the remaining comprises construction finance and indirect lending.
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In the past two years, the lender has launched its car loan distribution vertical, affordable housing co-lending and gold loans.
“We aspire to grow and continue to cater our existing lending business and our aim is to build about Rs 30,000-crore book in next five years. We are bullish on the gold loan business and see very attractive yields on the portfolio,” Sharma said.