Canara Bank’s new branch was opened on Bypass Road here on Wednesday, taking the number of braches in its network in Madurai Circle to 185.
Karumuttu T. Kannan, Fit Person, Sri Meenakshi Sundareswarar Temple, inaugurated the new branch in the presence of Canara Bank General Manager R. Sampath Kumar, who is also the circle head of the bank. With this, the total number of branches in the city has gone up to 22.
The Canara Bank’s Madurai Circle Office has jurisdiction over eight southern districts and is having lead bank responsibilities in Madurai and Theni districts.
According to a press release from K.N. Subramanian, Divisional Manager (Marketing), Canara Bank Circle Office, Madurai, the total business of Madurai circle stands at Rs.14,502 crore with deposits at Rs.6,013 crore and advances at Rs.8,489 crore.
The business level of branches in Madurai district is Rs.3,624 crore. Canara Bank has been lending advances to all priority sectors, including the MSME and agriculture sectors.
In Madurai Circle, Canara Bank had opened 1.21 lakh bank accounts under the Prime Minister’s Jan Dhan Yojana (PMJDY) of which 70,000 accounts were opened in Madurai district.
For the quarter ended September 2014, the total business of Canara Bank in the country stood at Rs.7.72 lakh crore.
The bank has earned a net profit of Rs.627 crore for September quarter, the press release here said.