Canara Bank looks at acquisition to enter US

Bangalore-headquartered public sector lender Canara Bank is planning to enter the United States through acquisition of a small bank. The move is aimed at increasing its global footprint.

The bank is also considering proposals to enter African nations like Kenya, Nigeria and South Africa.

“We are considering our entry into the US and African market. However, all these proposals are in a nascent stage,” S Raman, chairman and managing director of Canara Bank, said.