CANARA BANK TO FOCUS ON RETAIL LOAN SEGMENT

According to Mr. H.S. Upendra Kamath, Executive Director, Canara Bank, the bank is looking at the retail credit segment as a thrust area, and hopes to close the financial year with Rs 24,600 crore advances in this segment alone, raising the retail portfolio from 15% to 20% by March 2012. To achieve this, the bank's focus will be on housing, trade, educational and auto loans.


The bank recorded a 27 per cent year-on-year growth in the retail segment from Rs 6,668 crore to Rs 8,464 crore. This has been largely possible due to the concentrated effort of the retail asset hubs that the bank set up for centralised processing of retail loans. It has so far set up 25 such centres across India. The bank has tied up with all leading builders in each of these 25 cities. The bank would also give an “in-principle loan based on the customer's income documents if he/she wants to be sure of a home loan before going in for a home.


Source: http://www.blonnet.com/2010/02/15/stories/2010021550631000.htm