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Our Bureau

Bangalore March 21 Canara Bank's business growth target for the current financial year was on track, with credit growing at 20 per cent this year.

Speaking to reporters here today Canara Bank's Chairman and Managing Director, Mr M.B.N. Rao, said: "With the GDP growth in the 9-10 per cent trajectory, loan off take has also grown." Deposits this year was growing at 18 per cent this year and only a small component was bulk deposits, he said.

This year, the bank, he said, was optimistic of meeting its business target of Rs 2.3 lakh crore.

Mr Rao reiterated his interest in inorganic growth opportunities. However, he declined to specify any size of the bank, though, the preference was exclusively for banks operating in the western and northern regions.

"We had made bids for United Western Bank. That is an indication of the size that we would be looking at. We are not short of resources for such opportunities."

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