Canara Bank has inaugurated its 6th overseas branch at Johannesburg in South Africa, the first in South Africa. The bank already has 5 overseas branches at London and Leicester in United Kingdom, Hong Kong, Shanghai and Bahrain, apart from representative office at Sharjah and joint venture bank at Moscow.
Besides, the bank has also plans to expand its overseas presence by opening branches/offices in New York, Frankfurt, Dubai, Dar-es-Salaam, Sau Paulo, Tokyo, Abuja and Qatar during the year 2014-15.
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.
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