Canara Bank has opened its branch in New York. It will be the bank’s seventh overseas branch after London, Leicester (UK), Hong Kong, Shanghai, Bahrain and Johannesburg. Consul General of India in New York, Dnyaneshwar M Mulay, inaugurated the branch. The branch will have staff strength of seven people, four from India on deputation and three hired locally. Overseas business of the bank, which stood at 5.72% as of 31 March 2014, is projected to increase to 10% by the end of FY2015. R.K. Dubey, CMD of the bank, said the bank has plans to open branches/offices in Germany, Dubai, Brazil, Tanzania, Japan, Nigeria and Qatar during the current financial year. In addition to overseas branches, the bank has a representative office at Sharjah and a joint venture bank in Moscow.
