Canara Bank is planning to open a branch at Johannesburg in South Africa and Frankfurt in Germany by end of this fiscal. The bank has received approval from Reserve Bank of India (RBI) and Central Bank of South Africa to open its first branch in South Africa by December this year. The bank is awaiting regulatory approvals from Germany's government for opening a branch in Frankfurt, which is supposed to happen by March 2014. At present, Canara Bank has five overseas branches. The Bank also has a joint venture with State Bank of India in Moscow for commercial banking operations. In addition to South Africa and Germany, the bank plans to open branches at 12 other overseas centres - DIFC (Dubai), Sao Paulo (Brazil), Dar-es-Salaam (Tanzania), Tokyo (Japan), Abuja (Nigeria), Jeddah (Saudi Arabia), Qatar Financial Centre (Qatar), New York (USA), Sydney (Australia), Ontario (Canada), Wellington (New Zealand) and Singapore by March 2015. The Bank has received approval from the Reserve Bank of India for opening a branch in Dubai. The bank is also plans to open new branch networks in the northern, eastern and western parts of the country, they have taken approval from RBI to expand the network.
Project Value
Refer document
Conceptual Stage
Not Specified
India
Disclaimer :
We takes all possible care for accurate & authentic tender information, however Users are requested to refer Original source of Tender Notice / Tender Document published by Tender Issuing Agency before taking any call regarding this tender.
