Canara Bank to open more branches in AP

The Canara Bank Vijayawada circle General Manager (GM) Puli Sayi Babu said that they would give utmost importance for setting up of more branches in the 13 districts in rural and semi urban areas of the State. The bank management has set the target of inaugurating 30 more new branches before March, 2017, he said.

He said Canara Bank Vijayawada circle has bagged best performance award at national level for half yearly as well as the second quarter for outstanding performance. The GM Sayi Babu, who received the award from higher officials recently spoke to The Hans India and explained the achievements of the Canara Bank in the state and India. He further said that the Bank is planning to set up 300 more branches in AP next year.

Canara Bank is serving with 261 branches which are mostly located in semi urban and rural areas with deposits of Rs 9000 crore. He further said the banks disbursed advances worth Rs11,000 crore and are giving top most priority to primary sector, especially agriculture and auqa, he added.

The GM Sayi Babu expressed happiness that the bank stood in top position in AP with regard to sanction of loans to aqua sector. Canara Bank gave crop loans worth of Rs 8,300 and sanctioning education loans, housing loans and rendering assistance to medium and small entrepreneurs, he added.

Regarding banking services, the GM said e-lounge braches are getting very good response in the capital city Vijayawada. He further said the Bank would start two more e-lounge bank branches in the city. Canara Bank has 350 ATM centers across the state and planning to set up another 25 ATM centers in Vijayawada, he said.