Canara Bank expects Rs 112,00-cr growth
By Our Banking Bureau | 26 Apr 2002
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.