Shriram Transport sees FY11 NIM stable at 7-8%

Shriram Transport sees FY11 NIM stable at 7-8%

Mumbai: India’s Shriram Transport Finance Co Ltd expects net interest margin (NIM) to be stable at 7-8% in FY11, as it has managed bulk of its borrowings at a fixed cost, thus nullifying the impact of the rise in interest rates.

“In the last 15-18 months, whatever loans we have borrowed, we have taken at fixed rate. We have 80% fixed and 20% floating, so we are able to match asset (and) liability," managing director R. Sridhar said on Monday said.

Shriram Transport is India’s top financier for used commercial vehicles.

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