Canara Bank has been able to achieve higher manpower productivity, its Chairman and Managing Director R.K. Dubey, said.
Addressing the bank’s 108th Founder’s Day here on Tuesday, Dubey said “Productivity of the bank, which is reflected in business per employee, stood at Rs 14.28 crore.”
“The bank is adequately capitalised for higher growth. To achieve this, dedicated manpower is crucial. We have recruited 7,500 people this year,” he added.
The capital adequacy ratio of the bank is 10.62 per cent with tier-I ratio being 8.52 per cent, which is well above the benchmark.
On credit portfolio, Dubey said: “Our portfolio is well diversified and we cater to all segment of the economy.”The bank has the lowest base rate in the industry and has significantly slashed the rate of interest on retail loans, particularly education, housing, auto and loans to MSEs.
“The bank is focusing on increasing accessibility of education loans in a big way,” Dubey said.
“In case of MSME advances, the bank focuses on two recently launched products — MSE Pragati and Unnati,” he said.
“There continues to be immense scope for Artisan Credit Card and Laghu Udyami Credit Card, which are both covered under the Credit Guarantee Fund Trust for Micro and Small Enterprise , he added.