Bank expects Rs 112,00-cr growth
Our Banking Bureau
26 April 2002
Canara Bank has
targeted over 15 per cent growth to take the total global business
to Rs 112,000 crore in 2002-03 from Rs 97,000 crore last year. The
total business is made up of Rs 73,500 crore of deposits and Rs
38,500 crore of advances against Rs 63,500 crore and Rs 33,500
crore, respectively, last year.
The business plan for
2002-03 was launched by Canara Bank CMD R V Shastri and executive
director N Kantha Kumar at a conference of senior management
executives of the bank held here recently. Shastri said continuing
the thrust made during the last financial year, the bank is aiming
to disburse Rs 5,500 crore under retail banking and housing
against Rs 1,700 crore.
Priority sector advances is set to reach a level of Rs 13,200
crore - up by 25 per cent from Rs 10,500 crore last year. The bank
is planning to computerise 200 more branches, taking the total
number of computerised branches to 1,750, covering more than 85
per cent of the business.
Shastri indicated that
the bank is well set to cross the Rs 1,550-crore
mark in respect of operating profits during 2001-02 against
Rs 1,131 crore in 2000-01. The bank plans to go public sometime
during August-September 2002.
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