Public sector Canara Bank has hinted that during the current year it may acquire a bank which can increase its footprint in the North and West India.Speculations are rife that Canara Bank had evinced interest in taking over Mumbai-Dena Bank, which has strong base in Northern and Western India.
On the issue of funding of any possible acquisition, Rao, CMD Canara Bank said Canara Bank has been one of the strong banks with good fundamentals. There is no problem as far as capital for acquisition is concerned, he said. The bank, in which the government holds a 73% stake, could consider acquiring a bank having government stake of about 51%.Later Rao added that the bank is looking at expanding its footprint in the North and West India, as it already has a good network of bank branches in the south.
Read more in The Times of India article.
1 comment:
Canara Bank in CHENNAI City Sucks big time.
The Change they talk about is only on the logo and their name boards.
The same un-welcoming employees & their stupid processes still exist.
I had a employee of the Mylapore branch tell me "What the helll does the management know the way we suffer here?" Suffer? I wonder if Canara Bank is ill-treating them ;-)
Getting a cheque book is the most difficult part.
Thank god I switched to ICICI and Axis bank for good long time back, while my father an employee of INDIA TODAY still is forced to use CANARA Bank.
Agni Sharman
Banks in Kerala
www.fly2kerala.com/tourism/banks.htm
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