Public sector Bank – Canara bank is launching its new branches overseas. The chairman of the bank Mr. R.K dubey has reported that the bank has planned to offer its services in Japan, Brazil, Africa and Germany.
In addition to this the bank will add up three new offices at U.K. The bank is already having 2 offices in U.K. one in London and second in Leicester. With a hope of receiving an overwhelming response from the overseas branches, the bank is planning to add up 20 new branches abroad in the coming 5 years.
It has been reported that the bank’s asset quality was good and its cash recovery was the industry-best. The apex has approved the plan of the bank but the finance minister is yet to approve. Soon after the approval the bank will launch the branch as early as possible.