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(From left) Mr Alok K Misra, ED, Canara Bank; Mr M B N Rao, CMD; Mr Yang mingsheng, President and CEO, Agricultural Bank of China; and Ms Li Quingping, GM international department ABC at a function in Bangalore on Monday.

Bangalore , Sept. 25

Agricultural Bank of China (ABC) and Canara Bank on Monday expressed their keenness to build partnership between them in several areas, particularly in the areas of agricultural and rural employment promotions schemes.

A top level delegation led by Mr Yang Mingsheng, Chairman and CEO of ABC, held a meeting on Monday here with Mr M. B. N. Rao, Chairman & Managing Director of Canara Bank and his officials to discuss the areas of mutual cooperation.

ABC, which has the largest service network in China with 28,234 outlets and with an asset base of RMB 4,771 billion, was ranked among the top 50 global banks.

Ti-up areas

ABC and Canara Bank have agreed to extend cooperation in key areas like transformation of rural poor, credit linking of the self help groups, credit administration, NPA management and agricultural lending, said a Canara Bank release.

While commending the role played by Canara Bank, the ABC team also expressed keenness to adopt the Canara Bank's model in the realms of financial inclusion and recovery initiatives. ABC showed special interest in replicating Canara Bank's model of promoting gainful self-employment in the rural areas, the release added.

More Stories on : Alliances & Joint Ventures | Foreign Banks | Public Sector Banks | Rural Development

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