Canara Bank business up 19 per cent in 2003-04
By Bangalore: | 06 Apr 2004
Bangalore: Canara Bank has said its global business for 2003-04 was close to Rs 1,33,900 crore according to "quick estimate" and is up by 18.92 per cent as compared to the previous year.
While deposits grew 19.70 per cent to Rs 86,300 crore, advances shot up by 17.61 per cent to Rs 47,600, a bank statement said.
Non-food credit grew by 21.89 per cent to reach Rs 44,600 crore in the last fiscal from Rs 36,591 crore.
Retail lending, that accounted for 16.39 per cent of total credit was the driver for the last fiscal. Outstanding retail advances grew by 40.14 per cent to reach Rs 7,800 crore from Rs 5,566 crore. Within retail portfolio, housing loans shot up by 76.54 per cent to reach Rs 2,800 crore from Rs 1,586 crore.
Priority sector advances also rose by 26.68 per cent to touch Rs 18,500 crore, accounting 41.78 per cent of the bank's net credit.
Within the priority sector advances, agricultural advances aggregated Rs 6,450 crore, compared with Rs 5,407 crore as on March 2003, recording a growth of 19.3 per cent. Advances to small-scale industry sector continued the growth momentum to reach Rs 4,850 crore, signifying a 24.87 per cent growth (15.39 per cent).