Canara Bank on a acquisition mode

Bangalore, Mar 21 (UNI) Canara Bank is on the scan for acquiring Banks in Northern and Western parts of the country to enhance its presence.

Bank Chairman and Managing Director M B N Rao, talking to newsmen on the sidelines of the inauguration of 125 ATMs of the Bank, said that the bank was on the lookout for potential banks and was prepared to acquire any time. ''The Bank's presence in the southern region is strong and we want significant presence in West and North of the country'' he added.

Referring to the Bank's performance for the current fiscal he said the bank was confident of achieving the target of Rs 233,000 crore in total turnover. The deposits would go up by around 18 per cent, while the advances by 20 per cent, he added.

For the next fiscal, the Bank was expected to maintain the same growth and the turnover might touch Rs 300,000 crore, he added.

He said the Bank was handling the current liquidity crisis very well and was a lender in the call market.

UNI