CanFin Homes, the housing finance arm of public lender Canara Bank, on Tuesday, July 25, said three of its employees at the Ambala branch have committed fraud of Rs 38.53 crore, and an FIR has been lodged with the Haryana Police.
"...we inform you that the internal team of the company has found that employees of the Ambala branch of the company have committed fraud over a period of time by transfer of funds to different personal bank accounts by misusing the cheque signing authority given," CanFin Homes said in an exchange filing.
The three employees, namely Vishal Saxena, Vivek Bhagat, and Deepak Gupta, committed fraud over a period of time by transfer of funds to different personal bank accounts by misusing their cheque signing authority, the company said.
According to the company, the fraud was committed over a period of time and was detected on July 24, 2023. However, it assured that this will have no impact on the asset quality of CanFin Homes and the incident is isolated to the said branch only.
The company reported a 13.1 percent year-on-year jump in net profit at Rs 183.5 crore for the first quarter that ended June 30, 2023. Net interest income (NII) jumped 13.9 percent, coming at Rs 285.1 crore against Rs 250.4 crore in the corresponding quarter of FY23.
The gross non-performing assets (GNPAs) stood at 0.63 percent in the June quarter against 0.55 percent in the March quarter. Net NPAs came at 0.34 percent against 0.26 percent quarter-on-quarter.
Shares of CanFin Homes Ltd ended at Rs 850.60, down by Rs 39.50, or 4.44 percent on the BSE.
