L&T Finance eyes better fee income through 3rd-party sales...

L&T Finance, the financial services arm of engineering major Larsen and Toubro (L&T), is planning to grow its fee-income over the next few years, making it a sizeable chunk of its overall income. The company has created a distribution division, which is involved in third-party sales including the products owned by group s mutual fund and insurance business and others. According to N Sivaraman, senior vice-president, Larsen & Toubro (financial services), there is huge potential to generate fee income and is also a less risky business. The NBFC aims to grow its fee income through sale of third party products, loan ...

More...