SATYANARAYANA RAJU
Kerala becomes battleground in banks¡¯ fight for NRI deposits
Indian banks are intensifying their efforts to attract deposits from non-resident Indians, particularly in Kerala, a hub for NRI remittances. Banks are expanding their operations in the Gulf countries and offering specialised products and services to cater to the growing NRI customer base.
Canara Bank aims Rs 6,000 cr recovery in H2 FY25
Canara Bank plans to recover Rs 6,000 crore from bad loans in the second half of the fiscal year. The bank expects Rs 3,000 crore in recovery for both the third and fourth quarter. Additionally, it anticipates the IPO of Canara Robeco Asset Management Company to happen in the fourth quarter.
Is most of the repricing in Canara Bank over? Satyanarayana Raju answers
Canara Bank is focusing on alternative funding sources to reduce dependence on costly deposits. They are also expanding their deposits and launching new products in the CASA segment to boost growth. The bank has seen significant increases in savings accounts and has improved yields on advances. There is cautious optimism regarding future growth in various segments.
Canara Bank Q2 Results: Net profit rises 11% YoY to Rs 4,014 crore on lower provisions
Lower provisions helped Canara Bank report a 11.3% year-on-year rise in net profit for the September quarter at Rs 4,014 crore, while pre-provision operating profit remained almost flat on a slim rise in net interest income.
RBI rejects Canara Bank's credit card subsidiary plan
The Reserve Bank of India has turned down Canara Bank's proposal to establish a credit card subsidiary. Canara Bank had planned to convert its IT services subsidiary into a credit card unit to boost its card business. The rejection comes amid concerns over the growth of unsecured loans.
Canara Bank raises $300 million through five-year bond issue
The bonds, to be matured after five years on September 11, 2029, carry a semi-annual coupon of 4.896%, the bank said in a regulatory filing to the stock exchanges
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Amid deposit mobilisation challenges, Canara Bank on expansion mode: CEO
Canara Bank is expanding its branches to address deposit mobilization challenges, with 150 new branches launched in FY23-24 and another 250 planned for FY25. CEO K Satyanarayana Raju emphasized investments in AI, ML, and cyber security. The bank plans partial stake divestment in its subsidiaries, aiming for listing by FY25-26.
Canara Bank jumps at opportunity to tap deposits as Karnataka snaps ties with SBI, PNB
¡°I held a detailed meeting with circle heads and regional heads, and we have drawn up a strategy. We see it as a business opportunity and want to respond quickly,¡± Canara Bank MD & CEO K Satyanarayana Raju told ET.
Canara Bank MD hands Rs 1,838 cr cheque to FM Nirmala Sitharaman
This dividend payout reflects Canara Bank's unwavering commitment to its stakeholders and its strong financial health, driven by strategic initiatives and sound banking practices. The bank continues to play a pivotal role in supporting India's economic growth and development through its extensive range of financial products and services, the bank said in a statement.
Four PSU banks pay Rs 6,481 cr dividend to Govt
Four public sector banks, Canara Bank, Indian Bank, Bank of India, and EXIM Bank, present dividend cheques totaling Rs 6,481 crore to Finance Minister Nirmala Sitharaman for the financial year 2023-24.
Canara Bank Q4 results: Net profit up 18% on retail growth, fall in provisions
CEO K Satyanarayana Raju said the bank expects to deliver 11-12% loan growth in the current fiscal year despite conscious efforts to shed low-yielding corporate loans.
Our only concern is CASA is not growing the way the other deposits are going up: K Satyanarayana Raju, Canara Bank
Canara Bank MD & CEO says: ¡°We are focussed on the credit cost by reducing the slippages and maintaining the quality of the recoveries. All these things are helping us to maintain NIM at just above 3%. But the next quarter again, our NIM will be between 2.9% and 3%, but our efforts will continue to be nearer to that 3%.¡±
Canara Bank to open cyber security wing, stepping up AI adoption to predict online frauds & loan defaults
Canara Bank is set to launch a separate cyber-security wing from April 1 to enhance its investment in cybersecurity initiatives and protect customers from online fraud. The wing, headed by a general manager, will monitor digital transactions in real-time and trigger alerts for potential fraud.
Canara Bank launches UPI Interoperable Digital Rupee mobile application
Canara Bank on Monday launched UPI Interoperable Digital Rupee mobile application as a part of the Reserve Bank of India's Central Bank Digital Currency (CBDC) pilot project. Canara Bank is the first Bank among public and private sector banks to introduce this feature in Bank¡¯s CBDC mobile app called 'Canara Digital Rupee app'.
Canara Bank confident of managing NIM at around 3%, expects 12-14% credit growth: MD
Canara Bank CEO K Satyanarayana Raju said the bank is confident of maintaining a Net Interest Margin (NIM) of around 3% for the current financial year, despite higher interest expenses. He said around 52% of its portfolio is MCR-linked, which is providing good interest yields on advances. Raju added that while the cost of funds had peaked in the current quarter, the bank was focussing on its Current Account Savings Account (CASA), which has contributed Rs 3.3bn ($45m) in the last four months.
Canara Bank to spin off its credit card vertical into a separate subsidiary
Canara Bank is planning to create a new subsidiary to run its credit card business, said CEO K Satyanarayana Raju. He said the bank, which is the third most-valued state-run lender after State Bank of India and Bank of Baroda, will either use one of its existing subsidiaries or set up a new one to run the card business, which it believes can grow exponentially.
Our aim is to keep cash recoveries more than slippages: Satyanarayana Raju
Our more thrust will be on slippage as I say so that is why we have re-worked on our underwriting standards on various RAM schemes and close monitoring on the SME zero itself instead of allowing them to a SME one and SME two.
CBI officers who probed Satyam, Vyapam get President's medals
The officers who have been given Police Medal for meritorious service include Deputy Director (Admin) Gyanendra Kumar Verma.
Another YSR Congress MLA Sujaya Krishna Ranga Rao joins TDP
YSR Congress MLA Sujaya Krishna Ranga Rao of Bobbili in Vizianagaram district, today joined Telugu Desam Party.
NTR's son Balakrishna enters AP poll fray on TDP ticket
Represented by NTR and his elder son, now Nandamuri Balakrishna will be the third from the family to contest from the Hindupur seat.
AAP fields former PM Narasimha Rao's grandson from Malkajgiri
AAP release said today that it would field candidates for Telangana and AP assembly elections to be held on Apr 30 and May 7 respectively.
Andhra Pradesh: 7 including Congress rebel in fray for election to 6 RS seats
It is after 1999 that an election is being held for Rajya Sabha seats in the state, Legislature sources said.
TDP slams Jagan's privileges in jail after Congress allegation
Telugu Desam Party today questioned the privileges that Kadapa MP Y S Jaganmohan Reddy is allegedly enjoying in jail.
Ajay Maken, Pallam Raju, Rehman Khan get cabinet berth, Scindia & Sachin Pilot left out
K Rehman Khan, Dinshaw Patel, Maken, Pallam Raju, Ashwani Kumar, Harish Rawat and Chandresh Kumari have been sworn-in as Cabinet ministers.
Pranab takes potshots at Sangma, says he doesn't believe in miracles
"I do not believe in miracles," Pranab remarked today, taking a jibe at his rival P A Sangma who is hoping for a miracle to see him through in the July 19 poll.
Satyam¡¯s Raju gets bail on health grounds
Ramalinga Raju, the former chairman of Satyam Computer Services, who triggered one of Corporate India¡¯s biggest fraud investigation by admitting to inflating revenue and hiding liabilities last year, was granted bail by the Andhra Pradesh High Court on Wednesday.
Ramalinga Raju is 'raja' in hospital
While the other patients' beds are divided by curtains, Raju has a separate room to himself which staffers refer to as the 'VIP section'. The room has an attached bathroom with round the clock attention from doctors
Ex-Satyam chief Raju suffering from Hepatitis C, getting VIP treatment in hospital
Medical reports state he is also suffering from Hepatitis C and hypertension. Several tests have been performed on the disgraced Satyam founder by various city hospitals in the last three months.
I-T dept ignored Raju's diversion of funds
The income-tax dept appears to have turned a blind eye seven years ago to diversion of funds from Satyam to members of Raju family. The funnier side of Satyam saga!
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