Canara Bank reduces its Benchmark PLR rate by 25bps

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Canara Bank reduces its Benchmark PLR rate by 25bps

Canara Bank has reduced its Benchmark PLR rate by 25bps with effect from 16-02-2008

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Canara Bank a leading public sector Bank of the country has reduced its Benchmark PLR rate by 25 BPS with effect from 16-02-2008

Earlier, Bank had reduced the rate of interest on housing loan by 25 BPS. Bank has pursued the goal of rebalancing the credit portfolio in the current year in a very effective way. Bank has also achieved a growth of 28% under SME, 24% under agriculture and 20% under infrastructure lending. Bank has shifted its focus from 'NIM' to a much broader canvas of return on assets. A number of initiatives to bring about ground level changes have been undertaken including major reorganization of the Bank's structure, leveraging of the new brand identity and major HR initiatives.

The core thrust of the Bank's repositioning strategy is to position the bank as a modern and contemporary Bank, which is a value creator and the tag line "TOGETHER WE CAN" reiterates the core philosophy.

Sourced From: Canara Bank