Canara Bank’s gold loan disbursals cross ₹1 lakh crore

The head office of Canara Bank in Bengaluru.

The head office of Canara Bank in Bengaluru.

Canara Bank on Saturday said its gold loan outstanding crossed ₹1 lakh crore as on June 30, 2022.

During the current fiscal year so far, the bank’s gold loan grew 26.19% as compared with the corresponding period previous year. This was possible because of the contribution from 435 Canara Bank Gold Loan Plaza Branches, the bank said in a statement.

Canara Bank further said it was expecting tremendous demand for disbursements under gold loan in the short to medium term.

According to Bhavendra Kumar, Chief General Manager, Canara Bank, Head Office at Bengaluru, apart from gold loan, the bank has also achieved double-digit growth in all credit parameters, including retail, housing, MSME, agricultural, and corporates.

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Printable version | Aug 15, 2022 9:06:35 pm | https://www.thehindu.com/news/national/karnataka/canara-banks-gold-loan-disbursals-cross-1-lakh-crore/article65592523.ece