Canara bank revives plan to sell stake in can fin homes

PTI, Jun 19, 2019, 4:34 PM IST

New Delhi: State-owned Canara Bank Tuesday said its board has approved plan to sell part or full stake in housing finance subsidiary Can Fin Homes Ltd (CFHL).

Last year, Canara Bank had called off move to divest its entire shareholding in housing finance subsidiary Canfin Homes after receiving lower than expected price quotation.

Can Fin Homes has a pan India network of 132 branches, 20 Affordable Housing Loan Centres (AHLCs) and 20 satellite offices with customer base of over 1.2 lakh.

The said permission is subject to disinvest at appropriate time depending on the market conditions and available options, Canara Bank said in a regulatory filing.

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