Canara Bank, a leading nationalized bank, has opened its new branch at Perunthanni, Thiruvananthapuram. This is 43rd branch under the Thiruvananthapuram Circle, and 425 in the state of Kerala.
Earlier, the bank had signed a memorandum of understanding (MoU) with Central Warehousing Corporation (CWC). As per the agreement, the bank will provide finance to borrowers against warehouse receipts issued by CWC for the storage of farm produce in their godowns across the country.
Canara Bank posted a fall of 15.79% in its net profit at Rs 610.83 crore for the quarter ended March 31, 2014, as compared to Rs 725.38 crore for the same quarter in the previous year. However, total income of the bank increased by 22.57% at Rs 11609.72 crore for quarter under review as compared to Rs 9471.57 crore for the quarter ended March 31, 2013.
