Canara Bank sees huge biz coming from Gujarat
By Neelima Shankar
Jun 10, 2011
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Public sector lender Canara Bank is aiming to attain huge business from Gujarat. The bank sees business worth Rs 8000 crore from the state in this fiscal.

The branch count of the bank in the state is going to reach 100. It currently has a total branch count of 80 in Gujarat to which it is planning to add 20 more.

"We have been doing better than the minimum criteria required in priority banking. By setting up a SME cell, we hope to bag more business from the sector," said Archana Bhargav, executive director, Canara Bank.

"Credit to deposit ratio in Gujarat works out to be 84.64 per cent. We intend to increase our presence by opening more number of branches. More than 26 per cent of total bank finance in India is in Gujarat. Which is why, as part of Vibrant Gujarat Summit 2011, our bank signed memorandums of understanding (MoU) worth Rs 10,000 crore," Bhargava said.



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