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FinanceTimes of India

Canara Bank eyes $2.5 billion in foreign currency deposits

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  1. Canara Bank plans to raise $2.3–2.5 billion through foreign-currency deposits under RBI's FCNR(B) deposit swap window.

  2. The bank mobilized around ₹7,300 crore through the scheme in July.

  3. Canara Bank's loan book grew nearly 18% in the June quarter, compared to 11.6% deposit growth.

  4. Net profit rose 62% to ₹5,181 crore in the June quarter, while total income declined about 4% to ₹39,696 crore.

  5. The bank's current and savings account (CASA) deposit share was less than 30%.

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Canara Bank eyes $2.5 billion in foreign currency deposits · in5points