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ICICI Home Finance Company

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ICICI Home Finance Company
Company typePrivate
IndustryHousing Finance Company (HFC), Financial services, BFSI
Founded1999
Headquarters
Mumbai
,
India
Area served
India
Key people
Anirudh Kamani (CEO)
ProductsHome loans, Loan against property, fixed deposits, gold loan, construction finance, residential and commercial property search
Revenue₹ 3,574.8 million (2019)
₹ 1692 million (2019)
₹ 630.9 million (2019)
Total assets₹ 139,285.6 million (2019)
Number of employees
1800 (2020)
ParentICICI Bank Ltd
Websitewww.icicihfc.com

ICICI Home Finance Company (ICICIHFC) is an Indian public limited housing finance company (HFC),[1] headquartered in Mumbai with branches in major cities across India.[2][3][4][5] The company operates as a wholly owned subsidiary of ICICI Bank and is registered with the regulation authority of India - National Housing Bank (NHB).[6][7] It provides home and commercial loans, loan against property, gold loans and accepts fixed deposits.[8][9][10]

History

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The company was incorporated in 1999, under the Companies Act, 1956 as a wholly owned subsidiary of ICICI Bank.[11][12] It was created by ICICI Bank to focus as a separate entity dedicated to provide housing finance.[13] ICICI HFC is registered with National Housing Bank.[14][15] The company operates all over the country and it has offices in all major cities across India.[16]

ICICI HFC fixed deposits have received the highest ratings of MAAA by ICRA, FAAA by CRISIL and AAA rating from CARE.[17][18]

Awards

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  • 2019: ‘Mortgage and Home Loan Product of the Year – India’ from Asian Banking & Finance[19]

Product and services

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ICICI HFC provides housing finance to individuals and corporates for purchase or construction of residential houses.[20][21][22] In 2019, the company has disclosed that it has disbursed over $162.91 million in housing loans in the country. It offers home loans, loan against property, fixed deposit, gold loan, property search - residential & commercial, construction finance and insurance.[23][24][25]

Branch network

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The company started with six branches in 2017 and as of 2019, it has over 140 branches in India.[26][27][28]

References

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  1. ^ "ICICI Home Finance launches affordable housing loan scheme". @businessline. 18 June 2020. Retrieved 14 July 2020.
  2. ^ Hetavkar, Nikhat (24 April 2018). "ICICI Bank to keep home finance as standalone arm, drops plan to sell stake". Business Standard India. Retrieved 2 July 2020.
  3. ^ Gopakumar, Gopika (29 November 2017). "IndoStar Capital calls off deal to buy ICICI Home Finance". Livemint. Retrieved 2 July 2020.
  4. ^ "ICICI Home Finance to raise Rs 81 crore via bonds". India News, Breaking News, Entertainment News | India.com. Press Trust of India. 7 December 2015. Retrieved 2 July 2020.
  5. ^ "ICICI Home Finance offers spot sanctions of home loans to residents of Bhubaneswar". Pragativadi: Leading Odia Dailly. 4 February 2020. Retrieved 2 July 2020.
  6. ^ Surabhi (24 April 2018). "ICICI Home Finance puts off sale plans". @businessline. Retrieved 2 July 2020.
  7. ^ "Four companies including SBI Card, ICICI Home Finance to list papers on BSE". Business Standard India. Press Trust of India. 20 December 2019. Retrieved 2 July 2020.
  8. ^ Archana, Alekh (24 April 2018). "ICICI Home Finance aims Rs30,000 crore loan book in 3-4 years". Livemint. Retrieved 2 July 2020.
  9. ^ "Bombay High Court Restrains ICICI Home Finance From Selling MEP Infra Shares". BloombergQuint. 9 April 2020. Retrieved 2 July 2020.
  10. ^ "आईसीआईसीआई होम फाइनेंस ने कोटा में शुरू की तत्काल होम लोन स्कीम". Dainik Bhaskar (in Hindi). 20 February 2020. Retrieved 2 July 2020.
  11. ^ "ICICI Bank may sell housing finance arm". VCCircle. 10 July 2015. Retrieved 2 July 2020.
  12. ^ "Why a deal to buy ICICI Home Finance is critical for Everstone-backed IndoStar". VCCircle. 4 July 2017. Retrieved 2 July 2020.
  13. ^ Rebello, Joel (25 April 2018). "ICICI Bank makes a u-turn, drops plans to sell housing-finance unit". The Economic Times. Retrieved 2 July 2020.
  14. ^ "ICICI Home Finance offers spot sanctions of home loans to residents of Jaipur". The News Strike. 17 March 2020. Retrieved 2 July 2020.
  15. ^ "List Of Housing Finance Companies Granted". /nhb.org.in/.
  16. ^ Agrawal, Shrija (6 July 2016). "TPG Capital partners three LPs for ICICI Home Finance deal". Livemint. Retrieved 2 July 2020.
  17. ^ "Four things to check for in a Fixed Deposit". The Economic Times. Retrieved 2 July 2020.
  18. ^ "Company Fixed Deposit: Interest Rates, Fixed Deposits Rating, Fixed Deposits Schemes, Company Fixed Deposits in India 2019 - Fixed Income". www.moneycontrol.com. Retrieved 2 July 2020.
  19. ^ "Asian Banking & Finance Awards recognises record number of outstanding companies". Asian Banking & Finance. 19 July 2019. Retrieved 2 July 2020.
  20. ^ "How to choose the best home loan". The Financial Express. 9 November 2016. Retrieved 2 July 2020.
  21. ^ "Want to avail EMI moratorium? From SBI to HDFC Bank, here's what your bank, HFC is offering". The Financial Express. 18 April 2020. Retrieved 2 July 2020.
  22. ^ "Good news for home buyers! ICICI Home Finance launches affordable housing loan — SARAL; interest rate from 7.98% onwards". Zee Business. 18 June 2020. Retrieved 14 July 2020.
  23. ^ Das, Saikat (29 April 2020). "Top NBFC bond sales hit a bump". The Economic Times. Retrieved 2 July 2020.
  24. ^ "IVF-Baring set to clinch Rs 2500cr deal to buy ICICI Home Finance". The Financial Express. 11 August 2016. Retrieved 2 July 2020.
  25. ^ "ICICI Home Finance launches affordable housing loan – Check Eligibility". The Financial Express. 18 June 2020. Retrieved 2 July 2020.
  26. ^ "Ciao Green Collaborates With ICICI Home Finance to Design 140 Branches Across India". Business Standard India. Press Trust of India. 18 June 2019. Retrieved 2 July 2020.
  27. ^ "Ciao Green Collaborates With ICICI Home Finance to Design 140 Branches Across India". Devdiscourse. Retrieved 2 July 2020.
  28. ^ "Ciao Green collaborates with ICICI Bank's arm to design 140 Branches across India - ICICI Bank Ltd. Latest News". www.moneyworks4me.com. Retrieved 2 July 2020.
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