Can Fin Homes to disburse Rs 1,500 crore loans

Can Fin Homes, housing finance arm of Canara Bank is planning to disburse Rs 1,500 crore during the current financial year by targeting 80% growth in loan. It is aiming this expansion, by adding 20 branches during the present financial year and aggressive marketing.

The company has disbursed Rs 859 crore as on March 31, 2012, which is 81% more than in the previous year. The total outstanding loan portfolio stood at Rs 2,677 crore against Rs 2,198 crore. On the technology front, it is in the process of bringing its branches under the core banking solution.

It had also opened two centralized fire-proof document storage centers at Gurgaon and Bangalore for the safe custody of documents. For the year ended March 31, 2012, Can Fin Homes posted a net profit of Rs 43.76 crore against Rs 42.02 crore.