Canara Bank crosses Rs 1 trn mark for outstanding gold loan book in June

Canara Bank is pushing this business in Eastern region and two metropolitan areas - Mumbai and Pune

After the State Bank of India, now another large public sector Canara Bank has crossed Rs one trillion mark for outstanding gold loan book in June 2022. The Bengaluru-based lender is looking to expand its gold loan portfolio by over 30 per cent year-on year (YoY) in the current financial year ending March 2023 (FY23).

Out of Rs one trillion book, the overwhelming share is of agriculture segment (over Rs 90,000 crore) and balance is from two other segments – personal and MSMEs. Bank is making course corrections to strategy to enhance share of personal and micro and small enterprises (MSMEs). 

Bhavendra