Canara Bank has Rs 47000 crore corporate loan pipeline
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Canara Bank has a corporate loan pipeline totaling Rs 47,000 crore amid rising demand from Indian companies.
- ✓Managing director Brajesh Kumar Singh said, "We have a sanctioned corporate loans pool of Rs 30000 crore and proposals worth Rs 17000 crore." The bank expects credit growth to stay above 19% this quarter.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Synopsis
Canara Bank has a corporate loan pipeline totaling Rs 47,000 crore amid rising demand from Indian companies. The bank expects credit growth to remain above 19% year-on-year for the upcoming quarter. It reported significant growth in deposits and loans due to a strategy focused on non-resident Indian customers. Management anticipates maintaining a return on assets above 1% despite future provisioning requirements.
Kolkata: Canara Bank said it has a robust corporate loan pipeline around Rs 47,000 crore, reflecting steady credit demand from India Inc amid rising bond yields, which made market borrowing costlier.
This, along with the festive demand from individuals, would keep the bank's advance growth above 19% year-on-year for the third quarter, managing director Brajesh Kumar Singh told ET.
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The Economic Times
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