State-owned, Canara Bank is looking for capital support of about Rs 1,000 crore from the Centre in order to fund its business expansion, primarily abroad. The bank has bagged regulatory approval for opening a branch in Johannesberg in South Africa.
The bank’s net profit for the quarter ended March 31, 2013 declined by 12.51% at Rs 725.38 crore for the quarter as compared to Rs 829.09 crore for the quarter ended March 31, 2012. Bank’s total income has increased by 4.81% at Rs 9471.57 crore for the quarter under review as compared to Rs 9036.75 crore for the corresponding quarter of the previous fiscal.
