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LIC Housing sees FY12 NIM contracting on rising rates

LIC Housing sees FY12 NIM contracting on rising rates
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First Published: Thu, Apr 28 2011. 03 50 PM IST
Updated: Thu, Apr 28 2011. 03 50 PM IST
Mumbai: LIC Housing Finance Ltd expects its net interest margin to contract to 2.5-2.7% in the current financial year from 3.08% a year earlier on higher interest rates, a senior official told Reuters on Thursday.
“It won’t be as much as FY11 because interest rate is going up. So, how much will you load the customers? Some hit we will have to take,” V. K. Sharma, director and chief executive, said in a telephonic interview.
The company will focus on Tier-2 and -3 cities for growth in FY12, Sharma said, adding it was also seeing good demand from developers.
For FY12, it has a target of 25% loan disbursement growth and expects a profit growth of 25-30%, he added.
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First Published: Thu, Apr 28 2011. 03 50 PM IST