Canara Bank plans to upgrade 600 branches to 5-star category

Canara Bank, a leading nationalized bank, is planning to upgrade at least 600 branches to 5-star category to meet international standards. These new branches will offer the customers all the banking products under one roof and provide greater access to a wide range of services. As part of this plan, the bank had recently opened two branches in Bangalore and Tumkur. 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.