SINGAPORE, 10 March 2017 – An affiliate of GIC, Singapore’s sovereign wealth fund, has acquired from Canara Bank a 13.45% stake in CanFin Homes Ltd, one of India’s leading housing finance companies.

The investment stems from GIC’s belief in the strong growth potential of India’s housing financing sector over the long term. The sector has strong tailwinds driven by rising disposable incomes, growth in residential real estate and urbanization.