Canara Bank aims to achieve 18% business growth in FY2015

Canara Bank, a leading nationalized bank is aiming to achieve a total business growth of 18% in FY 2015. In value terms, the bank’s business is expected to grow to Rs 8.5 lakh crore from about Rs 7.22 lakh crore as at March-end 2014. The bank is also planning to take the number of branches from 4,755 to 6,000 and number of ATMs from 6,312 to 10,000 by March 2015. Canara Bank has posted a fall of 15.79% in its net profit at Rs 610.83 crore for the quarter ended March 31, 2014 as compared to Rs 725.38 crore for the same quarter in the previous year.  However, total income of the bank has increased by 22.57% at Rs 11609.72 crore for quarter under review as compared to Rs 9471.57 crore for the quarter ended March 31, 2013.