Canara Bank opens branch in New York

Canara Bank today announced it has opened its branch in New York-- its seventh overseas.
The bank has branches in London, Leicester (UK), Hong Kong, Shanghai, Bahrain & Johannesburg. Also, it has a Representative Office at Sharjah and a Joint Venture in Moscow.
Canara Bank plans to open branches/offices in Germany, Dubai, Brazil, Tanzania, Japan, Nigeria and Qatar during the current financial year, the bank said in a statement here.
The Bank's overseas business, which is at 5.72 per cent as at March 2014, is projected to increase to 10 per cent by end of FY15.
The Bank has also approached Reserve Bank of India seeking its approval for opening branches/offices in 11 more centres at Birmingham, East Ham, Kingsbury (all in UK), Singapore, Mexico, Indonesia, Australia, New Zealand, Canada, Turkey and Rwanda, it said.

The New York branch was declared open by Consul General of India in New York Dnyaneshwar M Mulay. The New York Branch premises was inaugurated by the bank Chairman and Managing Director R K Dubey, the statement said.