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Our Bureau

Thiruvananthapuram , May 19

Canara Bank, which is the lead bank in Kerala, proposes to increase its branch network as also the number of ATMs in the State.

It has planned to open 12 new branches in the State in the current year, according to Mr. M.B.N. Rao, Chairman and Managing Director.

Mr Rao, who is here to inaugurate the bank's centenary celebrations on Friday, told newspersons that at present it has 249 fully computerised branches, 17 extension counters and 91 ATMs in Kerala. Besides, it has an exclusive "Mahila Banking" branch in Thiruvananthapuram to cater to the needs of the women entrepreneurs in the State. The business of the bank in the State crossed Rs 12,000 crore in 2005-06. With around Rs 7,370 crore under deposits and Rs 4,944 crore under credit, it has improved the market share to around 10 per cent during the year.

Also, as against the industry growth rate of 10 per cent under deposits during the year, the bank has recorded a growth rate of 13 per cent and it expects to grow at around 20 per cent in the current fiscal.

Retail segment

Mr Rao said the bank has been laying more emphasis on retail segment in the State by conducting housing loan and car loan "melas" at various centres. Besides, tailor-made Kerala-specific schemes such as loans to homestead vegetable gardens and Kerala Vyapari Vyavasayi Ekopana Samithi have helped that bank in nurturing deep-rooted relationship with customers in rural as well as urban centres.

Free computer training

He said the bank has been extending free computer training to students from poor families in the State at the Canara Bank Institute of Information Technology in Thurvananthapuram and Alappuzha.

It has associated in the formation of 12,000 self-help groups in the State and is extending training facilities to unemployed women through the Centre for Entrepreneurship Development for Women.

More Stories on : Public Sector Banks | Kerala

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