Canara Bank is all set to strengthen its presence in North India. The Bank, which enjoys a client base of over 37 million and has a strong presence in South India, plans to open most of its 200 new branches this financial year in the north. The bank also plans to add around 1,650 employees in the fiscal year.
“We are planning to open 200 branches in the current fiscal. These branches will be opened across the country with special focus on increasing our presence in Gujarat, Rajasthan and the northeastern states,” said AC Mahajan, CMD of the bank.
The bank currently has a network of 3,050 branches and its total ATM count stands at 2,017.
Expansion will be complemented through fresh recruitments. “Around 1,650 individuals are proposed to be recruited in 2010-11,” added Mahajan.
The bank is also planning to strengthen overseas presence as it is aiming to have full-fledged branches in Bahrain and Qatar and a representative office at Sharjah in this financial year. The Bank opened a branch in Leicester, UK in April this year.
The Bangalore headquartered bank is aiming to grow its business by 25 per cent in the current year. “We are aiming at a total business of Rs 5 lakh crore by March 2011, where target for deposits is Rs 2.85 lakh crore and Rs 2.15 lakh crore for Advances,” said Mahajan.
New jobs at the bank