{{India\u2019s Canara Bank has opened its first branch in South Africa\u2019s Johannesburg and has plans to expand to other African countries as well.}}<\/p>\n
Rajiv Kishore Dubey, MD of Canara Bank, said, \u201dWe have wanted to open the South Africa branch for a very long time but didn’t get the required approvals. Now, we wish to open another branch in Durban.\u201d<\/p>\n
Canara Bank, headquartered in Indian city of Bangalore, has 4,750 branches across India and has offices in London, Shanghai, Hong Kong, Bahrain, the UAE and Russia.<\/p>\n
The bank is keen to invest in sectors like mining, agriculture and retail in Kenya, Botswana, Mozambique and Rwanda.<\/p>\n
Brazilian and Nigerian markets have been earmarked too. Much like in India, rural and semi-rural areas of Africa are on the bank\u2019s radar for expansion, sources said.<\/p>\n
Though the bank admitted that positive relations between South Africa and India partly influenced the bank\u2019s move to open a branch in the African continent, Dubey said that raising capital was one of the biggest challenges they faced.<\/p>\n
He also added that the survival of any bank is determined by the resilience of an enterprise, given the tough financial environments in hubs like London and Hong Kong.<\/p>\n
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{{India\u2019s Canara Bank has opened its first branch in South Africa\u2019s Johannesburg and has plans to expand to other African countries as well.}} Rajiv Kishore Dubey, MD of Canara Bank, said, \u201dWe have wanted to open the South Africa branch for a very long time but didn’t get the required approvals. Now, we wish to […]<\/p>\n","protected":false},"author":2,"featured_media":2000052296,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[100],"byline":[170],"hashtag":[],"class_list":["post-14554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-africa","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000052296,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14554.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14554.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14554.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14554.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14554.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton14554.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/14554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=14554"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/14554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000052296"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=14554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=14554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=14554"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=14554"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=14554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}