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Can Fin sets Rs 360-cr sanctions target

VIJAYWADA: Can Fin Homes Ltd, sponsored by the Canara Bank, has set itself a target of Rs. 360 crores housing loan sanctions and Rs. 300 crores disbursement during the current financial year and is confident of achieving the targets, Mr. G. Umesh She noy, the Managing Director, has said.

At a press meet , he said Can Fin had sanctioned Rs. 258 crores last financial year and disbursed Rs. 205 crores. It had earned Rs. 14.79 crores net profit last year and was expecting Rs. 17.5 crores or so this year. It had declared 23 per cent dividend last year. With cumulative sanctions exceeding Rs. 1,523 crores and disbursements Rs. 1,277 crores, Can Fin was the third largest housing finance company in the country after the HDFC and the LIC. The capital adequacy was 11.8 per cent against the stipul ated 8 per cent.

He said Can Fin had 41 offices and 40 outreach centres (operating in Canara Bank branches) in 15 States and four more branches would be opened this year. In Andhra Pradesh, it had branches in Hyderabad, Vijayawada and Visakhapatnam and was planning to op en new ones at Guntur, Rajahmundry and Secunderabad.

Mr. Shenoy said Can Fin had a Web site (www.canfinhomes.com) and a customer could receive in-principle sanction on-line after furnishing all the relevant information. In the branches, loans were being cleared even in a day. _ Our Bureau