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Canara Bank aims for increased biz

Canara Bank is aiming an aggregate business of Rs 8.50 lakh crore in 2014-15 with plans to add 1,250 branches. R.K. Dubey, CMD of the bank, said the bank is aiming to reach this figure with a deposit growth of 16-17% and advances growth of 19-20% by March 2015. During 2013-14 fiscal, the bank’s business had touched Rs 7.22 lakh crore. The bank also registered a 20.7% growth, opened 1,027 branches of which 80% were in rural and semi-urban areas, Dubey said. He also mentioned that the bank will open 1,250 branches this year, including 100 in Kerala, to increase its branch strength from 4,755 to 6,000 and ATMs from 6,312 to 10,000 by March next year. The bank was planning to raise capital of Rs 3,000 crore this fiscal to meet its capital requirement.

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