Mumbai, July 10 -- Edelweiss Financial Services Ltd Tuesday said its non-bank subsidiary ECL Finance Ltd will sell its wholesale loan book within two years to focus solely on retail lending.
Edelweiss will, however, continue to extend wholesale loans through its separate asset management company (AMC).
ECL Finance, which has a total loan book of '19,100 crore, sold wholesale loans worth '4,000 crore to global investors recently, and is looking to sell '3,000 crore more this fiscal year, company executives said at an earnings call on Monday, 6 July.
At the end of the March quarter, it had outstanding wholesale loans of '10,000 crore, down 43% from a year ago.
"We want to bring it (wholesale loans) down to zero by 2022. We will do it in t...