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September, 2006 Pragati Maidan, New Delhi, India |
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Asset based financing to be Citibank`s next focus area.
Printing and medical equipment generates most interest.
In a bid to increase its focus on asset based financing, Citigroup is not looking at getting into financing medical and printing equipment. . Currently GE is one of the major players in medical equipment financing in India.
The bank was the first in India to get in to truck financing. The ABF business in India now has a portfolio of around $650- $750m. If one includes securitization the portfolio would be at around $1bn
According to industry analysts the ABF business is likely to grow 20-25% in the next year because of the focused approach as compared to the rate of growth of 18% of last year.
Sectors like medical equipments has seen added interest by banks lately because of the investment into the sector. . With an increased focus on the health care industry and more diagnostic clinics being opened the market for medical equipment financing ha also increased.
Date: 24-May-2005
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