Moneycontrol
Jan 18, 2017 12:21 PM IST | Source: CNBC-TV18

Cost of funds down; loan growth momentum will continue: Can Fin

Can Fin Homes remained unaffected by demonetisation and Managing Director SK Hota told CNBC-TV18 the company's portfolio and type of loans given were the primary reasons behind this.

Can Fin Homes Limited posted a good set of numbers for the third quarter of the fiscal. Managing Director SK Hota told CNBC-TV18 the company stayed unaffected by demonetisation citing company’s portfolio and the type of loans it gave. 

Hota said earnings saw a consistent growth both in Q3 as well as in the nine months period.

Fresh loan approvals slowed down in November but picked up in December. Fresh loan sanctions in Q3 grew 33 percent and the momentum will continue in Q4.

Cost of borrowing dipped post demonetisation, said Hota attributing it to increased liquidity and drop in Marginal Cost of Funds-based Lending Rate (MCLR). Hota expects steady set of return ratios going forward.

Shares of the company were trading 0.30 per cent higher at Rs 1,720.95 on BSE at the time of publishing this report.

Watch video for more..

Sections
Follow us on
Available On