NEW DELHI: Canara Bank
is expecting a credit growth of over 25 per cent in the current
financial year, while deposits are likely to grow by 17 per cent, a
top official said here today.
"We are expecting
over a 17 per cent deposit growth in the current fiscal and in credit
we are expecting over 25 per cent growth," Canara Bank CMD R K
Dubey told reporters on the sidelines of a conference on 'Financial
Inclusion for Reviving Growth', organised by CII.
Canara
Bank's net profit in the second quarter of 2013-14 fell by 5.3 per
cent to Rs 625.94 crore on sharp increase in bond yields.
Dubey
said the bank is focusing on ensuring good service and prompt
delivery as part of its growth strategy and it will emphasise on
lending to the priority sector.
"Priority sector, agriculture, MSME (micro, small and medium enterprises) are the areas we are focusing. New sectors such as road and infrastructure are also coming up (for borrowing)," he said.
"Priority sector, agriculture, MSME (micro, small and medium enterprises) are the areas we are focusing. New sectors such as road and infrastructure are also coming up (for borrowing)," he said.
He
said the bank has brought down net NPAs to 2.64 per cent in the
second quarter.
"...So we have worked hard to control the NPAs. We have improved recovery, as well as credit. Asset quality is controlled," he added.
On bank's expansion plans, he said so far 500 branches have been opened in the current financial year and the bank is expected to open about 300 more branches before March 2014.
"...So we have worked hard to control the NPAs. We have improved recovery, as well as credit. Asset quality is controlled," he added.
On bank's expansion plans, he said so far 500 branches have been opened in the current financial year and the bank is expected to open about 300 more branches before March 2014.
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