Canara Bank to open 100 branches in rural areas

Canara Bank to open 100 branches in rural areas

Speaking to media persons here, Canara Bank Executive Director Archana S Bhargava said the bank aims to reach an aggregate business figure of Rs 6.25 lakh crore, comprising total deposits of Rs 3.55 lakh crore and advances of Rs 2.70 lakh crore.

Stating that the bank plans to take the ATM strength from 2,216 to 4,000 by March 2012, Bhargava said that there are more than 50 ATMs in Mangalore and plans are on the anvil to open three more ATMs in Mangalore soon.

Global footprints

Giving details about the expansion plans in foreign countries, she said the bank plans to open branches in Manama, Qatar, South Africa, Germany, the USA, Brazil, Tanzania and a representative office in Tokyo (Japan).

Clarifying that the branches abroad will be fullfledged, she said the customer in London will get the same service as he gets in Mangalore or any other branch.

Meanwhile, she also said that surveys to open branches in Sri Lanka, Nigeria and Kenya have been completed.

Financial inclusion

The bank has opened 6.02 lakhs of no-frills accounts during financial year 2011, taking the tally of no-frill accounts to 27.84 lakh since inception, she said and added that the bank has covered 27 villages in Mangalore. 

Earlier in the day, she distributed smart card to villagers at Shirlalu in Belthangady taluk as a part of the financial inclusion programme in Shirlalu. Appealing the villagers to make use of the services of the bank, she said with the help of smart card, the villagers can debit or credit money in SB account, open an RD account, tranfer money, open health insurance and life insurance among other services.