Canara Bank is increasing its network overseas. It has been reported that Canara Bank is opening its 7th overseas branch in New York. Recently Bank has established its branch in South Africa. Within a period of 2 months bank is establishing second overseas branch.
Bank is having its branches in London, Hong kong, Leicester (UK), Johannesburg and Bahrain. Further the bank is also planning to have its branches in Qatar, Germany, Dubai, Brazil, Japan etc by the end of this financial year. The bank also reported an increase in its overseas business. The overseas business of the bank has increased to 10% from 5.72%.
The New York Branch premises was inaugurated by the bank Chairman and Managing Director R K Dubey. Soon the bank will approach the RBI for seeking the approval to establish the branches in 11 more cities outside the country.