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K.R. Srivats

New Delhi , Dec 26

Canara Bank is aiming to grow its export credit book by at least 20 per cent this year, according to Mr M.B.N. Rao, Chairman and Managing Director.

As on March 31, 2006 Canara Bank's export credit exposure stood at Rs 7,800 crore.

"We also want to increase our retail advances by at least 20 per cent this fiscal," he told Business Line after receiving two FIEO awards from Commerce and Industry Minister Mr Kamal Nath today.

Canara Bank bagged the Niryat Bandhu-Gold Trophy for 2004-05 and silver trophy for 2003-04.

The bank's total advances stand at about Rs 82,000 crore, of which the retail exposure is about 20 per cent.

Mr Rao said that the exporting community was getting export credit at competitive rates and that there were little indications of the rates moving up in the near term.

On advances made to corporates, he said that the bank would re-price its sub-PLR lending to maintain its net interest margin.

Mr Rao also said that Canara Bank had recently gone in for some increase in deposit rates, adding that the bank's liquidity position was quite comfortable.

More Stories on : Credit Market | Exports & Imports | Public Sector Banks

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