Canara Bank launches two new products in Retail Expo 2013 in Goa

Canara Bank, a leading nationalized bank, had organized Canara Retail Expo 2013 in state of Goa on August 14, 2013. The bank launched two new products in the expo, Canara MSE Pragati and Canara MSE Unnati for entrepreneurs. The unique feature of these new products is that they only required a viable project and the bank would not insist on collateral or guarantee.

The chairman of the bank also disbursed loans worth Rs 1.01 crore to 1,000 borrowers to mark the occasion.

On standalone basis, the bank has posted a rise of 2.17% in its net profit at Rs 792.07 crore for the quarter ended June 30, 2013 as compared to Rs 775.24 crore for the same quarter in the previous year. Total income has increased by 14.65% at Rs 10507.88 crore for quarter under review as compared to Rs 9165.47 crore for the quarter ended June 30, 2012.