Can Fin Homes appoints former Bandhan Bank Housing Finance head as MD, CEO

The NBFC's board has appointed Suresh Srinivasan Iyer as the managing director and chief executive officer (CEO) with immediate effect.

Suresh Srinivasan Iyer is appointed as the managing director and CEO with effect from 18 March 2023, initially for a fixed term of three years and further extendable to two years.

Suresh Srinivasan has worked in Gruh Finance since 1997 and went on to become part of core management team early in his career. He later transitioned into Bandhan Bank as the head of the housing finance vertical.

Can Fin's previous MD and CEO Girish Kousgi tendered his resignation in September last year.

 

Further, the board has renewed the authorisations for issuance of non-convertible redeemable debentures upto an amount of Rs 1,764 crore, on private placement basis, in one or more tranches, for a period upto the date of the annual general meeting (AGM) of the year 2022-23.

Can Fin Homes is engaged in a housing finance institution approved by National Housing Bank (NHB), the apex authority of housing in the country.

The company's net profit advanced 30.9% to Rs 151.49 crore in Q3 FY23 on 39.6% rise in total income to Rs 709.71 crore in Q3 FY22.

Shares of Can Fin Homes rose 1.62% to Rs 529.55 on Friday, 17 March 2023.

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