Canara Bank's new MD and CEO, Brajesh Kumar Singh, said his immediate priority was on the resources side, raising low cost deposits and improving CASA to strengthen the bank's overall efficiency and to make the bank more attractive to younger customers.
STRATEGY ON FUNDING AND EFFICIENCY
Singh told Business Standard that his first priority would be the liability side, particularly current account and savings account (CASA) deposits, which are low-cost deposits. He said the bank's CASA ratio of about 30% lagged behind peers and that he aimed to raise it to 32% by the end of 2026-27.
TARGETING YOUNGER CUSTOMERS
Alongside resource goals, Singh said he wanted Canara Bank to become the preferred bank for the younger generation.
OTHER PRIORITIES
Singh also told Business Standard he wanted to grow the bank's retail, agriculture and MSME (RAM) lending, which makes up about 60% of total loans, citing better earnings, higher cross-sell opportunities and diversified risk.
He said he would also focus on maintaining asset quality to keep credit costs in check and on further strengthening the bank's digital banking.
Sources: BusinessLine; Business Standard
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