Canara Bank plans to open over 1,250 branches in two years

Canara Bank, a leading nationalized bank, is planning to open over 1,250 branches and over 3,700 ATMs in the next two years. Earlier, the bank had received approval from the RBI to expand its presence in 8 international locations including Dubai, Qatar, Germany, Brazil, Tanzania, Japan, Nigeria and Saudi Arabia.

Currently, the bank’s overseas operations cover six countries with two branches in UK, one each in Hong Kong, Shanghai, Bahrain and a representative office in Sharjah.

Canara Bank posted a rise of 1.86% in its net profit at Rs 806.86 crore for the quarter ended March 31, 2014, as compared to Rs 792.07 crore for the same quarter in the previous year. Its total income has 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.