Canara Bank lending to SME sector stands at Rs 1,500 crore
Hotline: 1800 102 2007
X
Search Business Opportunities
2014-06-07

Canara Bank lending to SME sector stands at Rs 1,500 crore

Public sector lender Canara Bank is targeting an aggregate business of Rs 8.50 lakh crore this fiscal with plans to add 1,250 branches, a top official said.

Public sector lender Canara Bank is targeting an aggregate business of Rs 8.50 lakh crore this fiscal with plans to add 1,250 branches, a top official said.

 

"The bank was aiming to reach an aggregate business figure of Rs 8.50 lakh crore with a deposit growth of 16-17% and advances growth of 19-20% by March 2015," bank's Chairman and Managing Director R K Dubey said.

 

Dubey also inaugurated the bank's third circle office in Kerala in the presence of K V Thomas, MP and former minister, P Rajeev, MP, V S Krishnakumar, Executive Director. The branch will be headed by C G Nair, Deputy General Manager. The circle office covers four districts of Kerala with 125 branches-- in districts of Ernakulam, Thrissur, Palakkad and idukki.

 

Canara Bank had committed Rs 1,170 crore to Kochi Metro project and we are considering some big proposals from government and big PPP, he said. The total business of Ernakulam circle is Rs 13,000 crore with CD ratio of 86%. The finance to agriculture is Rs 3,000 crore, SME is Rs 1,500 crore and priority sector is Rs 4,900 crore.

 

During 2013-14 fiscal, the bank's business had touched Rs 7.22 lakh crore. The public sector lender will add 1,250 branches this year, including 100 in Kerala.

 

The bank was planning to raise capital of Rs 3,000 crore this fiscal to meet its capital requirement. "We may raise capital from government or from market or from bonds. As market improves, we will go for the best option subject to government and RBI approval," he said.

 

Dubey further said that the bank aims to reduce its gross NPA to touch approximately 2% and Net NPA 1-1.25% this year.

Related opportunities
  • Others Food Service
    About Us: The Philosophy that drives us is that “Good food doesn’t..
    Locations looking for expansion Maharashtra
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Ice creams & Yogurt Parlors
    About Us Creamist-a venture of shaha food products is one of..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Clinics & Nursing Homes
    About Us    LA Styles Pvt. Ltd. is founded upon one core..
    Locations looking for expansion Gujarat
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Quick Service Restaurants
    About:Bueno SANDWICHCRAFT, a progressive venture of Buéno Foods Private Limited,..
    Locations looking for expansion New Delhi
    Establishment year 2013
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts