Bangalore based lender, Canara Bank is eyeing at total business of Rs 7 lakh crore in this financial year. The bank is also planning to add 1300 new branches in the next two years to expand its presence.
Bank's Chairman and Managing Director, Mr. R K Dubey said, "We are targeting to achieve total business of Rs 7 lakh crore in 2013-14. But this target is yet to be approved by the board".
"Bank's main focus will remain on agriculture, retail and MSME for lending," Mr. Dubey added.
The bank achieved 13 per cent growth in total business size of Rs 6 lakh crore comprising of Rs 3.55 lakh crore of deposits in 2012-13.
On questioning about bank's expansion, Mr. Dubey said the bank is planning to open 1300 new domestic branches and nine overseas offices in the coming two years.
"We have plans to open 1,300 new branches in next two years, which will take branch strength to 5,000," Mr. Dubey said.
The bank would also open nine overseas offices in countries including Brazil, Tokyo, South Africa, Qatar in next two years. Canara Bank has presently five overseas branches in countries including Moscow, London and Hong Kong.
Asked about hiring, Mr. Dubey said the bank would recruit 5,500 people in current financial year which would be required for upcoming branch expansion across the country.
"Last year, we recruited 4,000 people and this fiscal we will recruit 5, 500," Mr. Dubey added.
The bank has also plans to open 10 branches which will have only women employees. These branches will be opened in state capitals.