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Tuesday, October 5, 1999

Ceat Fin to stop corporate lending

ENS ECONOMIC BUREAU  
MUMBAI, OCT 4: Ceat Financial Services Ltd (CFSL), the RPG group financial services company, has decided to totally exit from corporate lending and focus on primary dealership concentrated on retail business, SOHO (small office home office) credit under it COC (Ceat office credit) brand, and container leasing both operating and financial. It has also decided to stop taking fresh fixed deposits.

This represents a strategic shift made by CFSL from wholesale to retail end of the business and offers growth prospects in an area where the company already has a strong presence. ``Given the current environment, the company's strategic business recast has been provocative in nature with an eye firmly on competitiveness and profitability,'' it said.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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