Canara Bank, Agricultural Bank of China to forge cooperation

Bangalore, Sep 25 (UNI) A top level delegation from the Agricultural Bank of China (ABC) today visited Canara Bank for exploring possible areas of cooperation between the two banks.

Both the banks agreed to expand cooperation in key areas such as transformation of the rural poor, credit linking of Self Help Groups (SHG), credit administration, NPA management and agricultural lending, according to a release from Canara Bank here.

ABC Chairman and Chief Executive Officer Yang Mingsheng, who headed the delegation, lauded the efforts of Canara Bank in areas like agricultural lending, rural development, SHG movement, NPA management and the recent initiatives under financial inclusion, the release said.

ABC was particularly keen on replicating Canara Bank's successful model of promoting gainful self employment in rural areas.

ABC, with a total asset base of RMB 4,771 billion, featured among the top 50 banks worldwide and had the largest service network in China with 28,234 outlets.

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