Central Bank Of India Forges Key Partnership With Kisetsu Saison, Eyes Portfolio Expansion

The loans mentioned will adhere to relevant laws, including RBI guidelines. Central Bank of India and Kisetsu Saison Finance partnering will significantly expand Central Bank of India's portfolio. Kisetsu Saison Finance (India), an RBI-registered NBFC headquartered in Bengaluru, focuses on financing individuals, MSMEs and corporates across 40 locations in 18 states/union territories. As of 30 September 2023, the company's AUM exceeded Rs 8,200 crore.

As per the agreement, Kisetsu Saison Finance (India) will handle MSME loan proposals as per jointly established credit parameters, with Central Bank of India absorbing 80 per cent of these loans. The NBFC will manage the loan lifecycle.

Central Bank of India offers diverse banking services to individuals, enterprises, corporates, and institutions across India through its extensive network. As of September 2023, the bank had 4,489 branches, 4,044 ATMs and 10,962 BC Points, totaling 19,495 Touch Points. In Q2 FY24, the bank reported a 90.25 per cent surge in net profit to Rs 605 crore, with total income increasing by 19.07 per cent to Rs 8,412 crore compared to Q2 FY23.