Canara Bank’s Grand Growth Gambit: Will Its 3,000 New Hires and 250 Branches Spark a Banking Revolution?

Canara Bank is preparing for a big growth push in FY26, where it is planning to hire 3,000 new staff and add 250 more branches in India, said CEO K Satyanarayana Raju. The move reflects the bank's determination to enhance its national reach and improve customer service against increasing competition and deposit mobilisation issues.

 

Monster Recruitment Drive:

Canara Bank has announced the recruitment of 3,000 apprentices, inviting applications from graduates aged 20–28 years. The one-year apprenticeship is designed to give students on-the-job banking experience and enhance employability among India's youth. Registration begins September 21 and ends October 4, with a simplified online application system and a monthly compensation of ₹15,000 for selected candidates.

 

Branch Network Expansion

The bank will open 250 new branches in FY26, after the successful opening of 150 branches in FY24 and another 250 in FY25. The expansion is aimed at solving deposit mobilisation issues and enhancing access to banking services, particularly in underbanked areas.

 

Growth Roadmap:

Fresh from a 28% Q4 profit rise to ₹5,070 crore, Canara Bank is looking at 10–11% loan growth and more than 9% deposit growth in FY26. The CEO highlighted the bank's high capital base and continued focus on sustaining strong asset quality and operational performance.

 

Regional Focus:

In Andhra Pradesh and Telangana alone, 22 new branches will be opened, adding to the bank's vast network of 2,000 touch points in these states.

Canara Bank's aggressive recruitment and expansion plan indicates its commitment to continue being a major player in India's public sector banking industry.

 

Sources: Economic Times, Times of India, BFSI Economic Times, NDTV