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Canara Bank gets licence to open a branch in New York



Updated On - Sunday, 19 January 2014

19, December 2013

BANGALORE: Canara Bank today said it has received licence from the US regulators to open a branch in New York, as it seeks to expand its global presence.

"The Board of Governors of the Federal Reserve System,Washington DC, US, vide its communication dated December 13, 2013 has approved the proposal of the bank to open a branch in New York," Canara Bank Chairman & Managing Director R K Dubey said in a statement.

Stating that Canara Bank could get the approval in 20 months, the statement said that the bank is taking steps to hasten the process of opening the branch and commence the operations expeditiously.

Published by: The Economic Times

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