ICICI Home Finance Company

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]

ICICI Home Finance Company
Private
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

History

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
  • 2019: ‘Mortgage and Home Loan Product of the Year – India’ from Asian Banking & Finance[19]
  • 2018: Silver Award in the ‘Home Loan Provider of the Year 2018’ category from the Outlook Money Awards.

Product and services

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

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

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References
  1. Bureau, Our. "ICICI Home Finance launches affordable housing loan scheme". @businessline. Retrieved 2020-07-14.
  2. Hetavkar, Nikhat (2018-04-24). "ICICI Bank to keep home finance as standalone arm, drops plan to sell stake". Business Standard India. Retrieved 2020-07-02.
  3. Gopakumar, Gopika (2017-11-29). "IndoStar Capital calls off deal to buy ICICI Home Finance". Livemint. Retrieved 2020-07-02.
  4. India, Press Trust of (2015-12-07). "ICICI Home Finance to raise Rs 81 crore via bonds". India News, Breaking News, Entertainment News | India.com. Retrieved 2020-07-02.
  5. "ICICI Home Finance offers spot sanctions of home loans to residents of Bhubaneswar". Pragativadi: Leading Odia Dailly. 2020-02-04. Retrieved 2020-07-02.
  6. Surabhi. "ICICI Home Finance puts off sale plans". @businessline. Retrieved 2020-07-02.
  7. India, Press Trust of (2019-12-20). "Four companies including SBI Card, ICICI Home Finance to list papers on BSE". Business Standard India. Retrieved 2020-07-02.
  8. Archana, Alekh (2018-04-24). "ICICI Home Finance aims Rs30,000 crore loan book in 3-4 years". Livemint. Retrieved 2020-07-02.
  9. "Bombay High Court Restrains ICICI Home Finance From Selling MEP Infra Shares". BloombergQuint. Retrieved 2020-07-02.
  10. "आईसीआईसीआई होम फाइनेंस ने कोटा में शुरू की तत्काल होम लोन स्कीम". Dainik Bhaskar (in Hindi). 2020-02-20. Retrieved 2020-07-02.
  11. "ICICI Bank may sell housing finance arm". VCCircle. 2015-07-10. Retrieved 2020-07-02.
  12. "Why a deal to buy ICICI Home Finance is critical for Everstone-backed IndoStar". VCCircle. 2017-07-04. Retrieved 2020-07-02.
  13. Rebello, Joel (2018-04-25). "ICICI Bank makes a u-turn, drops plans to sell housing-finance unit". The Economic Times. Retrieved 2020-07-02.
  14. "ICICI Home Finance offers spot sanctions of home loans to residents of Jaipur". The News Strike. 2020-03-17. Retrieved 2020-07-02.
  15. https://nhb.org.in/a-list-of-housing-finance-companies-granted/. "List Of Housing Finance Companies Granted". /nhb.org.in/.
  16. Agrawal, Shrija (2016-07-06). "TPG Capital partners three LPs for ICICI Home Finance deal". Livemint. Retrieved 2020-07-02.
  17. "Four things to check for in a Fixed Deposit". The Economic Times. Retrieved 2020-07-02.
  18. "Company Fixed Deposit: Interest Rates, Fixed Deposits Rating, Fixed Deposits Schemes, Company Fixed Deposits in India 2019 - Fixed Income". www.moneycontrol.com. Retrieved 2020-07-02.
  19. "Asian Banking & Finance Awards recognises record number of outstanding companies". Asian Banking & Finance. Retrieved 2020-07-02.
  20. "How to choose the best home loan". The Financial Express. 2016-11-09. Retrieved 2020-07-02.
  21. "Want to avail EMI moratorium? From SBI to HDFC Bank, here's what your bank, HFC is offering". The Financial Express. 2020-04-18. Retrieved 2020-07-02.
  22. "Good news for home buyers! ICICI Home Finance launches affordable housing loan — SARAL; interest rate from 7.98% onwards". Zee Business. 2020-06-18. Retrieved 2020-07-14.
  23. Das, Saikat (2020-04-29). "Top NBFC bond sales hit a bump". The Economic Times. Retrieved 2020-07-02.
  24. "IVF-Baring set to clinch Rs 2500cr deal to buy ICICI Home Finance". The Financial Express. 2016-08-11. Retrieved 2020-07-02.
  25. "ICICI Home Finance launches affordable housing loan – Check Eligibility". The Financial Express. 2020-06-18. Retrieved 2020-07-02.
  26. India, Press Trust of (2019-06-18). "Ciao Green Collaborates With ICICI Home Finance to Design 140 Branches Across India". Business Standard India. Retrieved 2020-07-02.
  27. "Ciao Green Collaborates With ICICI Home Finance to Design 140 Branches Across India". Devdiscourse. Retrieved 2020-07-02.
  28. "Ciao Green collaborates with ICICI Bank's arm to design 140 Branches across India - ICICI Bank Ltd. Latest News". www.moneyworks4me.com. Retrieved 2020-07-02.
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