State owned bank Canara Bank has decided to come up with 1,250 new branches by the end of this fiscal year. The Bank is expecting for a turnaround with these branches within coming 1- 2 years. Because of low real estate price and low cost of operations, this time bank is primarily focusing on rural and semi urban areas for setting up the branches. Bank is having a wide network all over the country with total number of 4,755 branches. Last year bank established 1,027 branches. Bank is having its network overseas as well with 5 branches established outside the country.
With aim to expand the banking networking and improve CASA bank is planning to set up more branches. The CASA and term deposits in rural, semi-urban areas can maintain and sustain the bank’s branch operations. Further the bank is also planning to set up 3,000 new ATMs. At present bank is having 6,312 ATMs and is planning to have 10,000 ATMs by the end of this year.