Canara Bank expects over 25% credit growth in FY14

Canara Bank is expecting a credit growth of over 25 per cent in the current fiscal year (FY14), while deposits are likely to grow by 17 per cent, said the media report.

"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," R K Dubey, chairman and managing director of Canara Bank, told reporters on the sidelines of a CII-organised conference on 'Financial Inclusion for Reviving Growth'.

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, R K Dubey, added.

Net profit in the second quarter of the current fiscal year fell 5.3 per cent to Rs. 625.94 crore on a sharp increase in bond yields, added the media report. Besides, the bank has brought down net NPAs to 2.64 per cent in the second quarter, added the media report.

Dion Global Solutions Ltd.

Read more about: canara bank, credit growth, fy 2014
Story first published: Thursday, November 14, 2013, 9:12 [IST]
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