Canara Bank, a leading nationalized bank, has opened a specialised government business branch at Secretariat in Thiruvananthapuram. This new branch will focus on e-payment of funds for various public welfare schemes and would facilitate smooth transfer of funds from various departments to beneficiaries.
The bank’s net profit for first quarter ended June 30, 2014 rose by 1.86% at Rs 806.86 crore as compared to Rs 792.07 crore for the quarter ended June 30, 2013. Its total income increased by 11.61% to Rs 11728.01 crore for the quarter under review from Rs 10507.88 crore for the corresponding quarter of the previous year.
