DCB to sell HDFC home loans

Here is the beginning of my post. And here is the rest of it. Development Credit Bank (DCB) has tied up with HDFC for a strategic alliance to market the latter’s home loans. This is the second bank after HDFC Bank to market HDFC’s home loans. DCB MD & CEO Gautam Vir said, “Home loan is not the most profitable business because these are long-term loans. Also it’s not our area of expertise.” The bank is also likely to get more time to reduce the 25% stake of AKFED in the bank to 10%. The bank is looking at increasing the retail portfolio of its advances from 45% to around 55% by the end of next fiscal.