Canara Bank eyes Rs 8.5 lakh crore business

Bank's customer base touched 55.5 mn, with the addition of over 8.5 mn customers during the last fiscal

Public sector lender Canara Bank aims to achieve a total business of Rs 8.50 lakh crore; deposit growth of 16-17 per cent, and a 20 per cent growth in advances in the current financial year, said RK Dubey, bank's chairman and managing director.

At the end of March 31, 2014, the global deposits of Canara Bank reached Rs 420,723 crore and advances Rs 301,067 crore; thus achieving a total business of Rs 721,790 crore at an annual growth of 20.7 per cent .

Its customer base touched 55.5 million, with the addition of over 8.5 million customers during the last fiscal. It added a record 1,027 branches and 2,786 ATMs during the year ended March 2014, and would open another 1,250 branches this year.  
 

Canara Bank has a network of 6,312 ATMs and 4,755 branches in India and abroad.

Apart from these, 102 E-lounges were established across major cities for customer self-service. Dubey today inaugurated the bank’s new circle office at Ernakulam, which will be headed by CG Nair, the bank’s deputy general manager.

Ernakulam circle, the bank’s 40th circle, covers four districts of Kerala with 125 branches, including 39 in the Ernakulam, 41 in the Thrissur district, 42 in the Palakkad, and three branches in Idukki.