Chennai: Canara Bank is "quite serious" about coming out with a public issue shortly but plans were yet to be firmed up, Geroge Joseph, general, manager of the Chennai circle said.

"We are closely watching the trends in the capital market and also the performance of some of the latest IPOs like that of the Punjab National Bank before finalising the plans," Jospeh said in reply to queries in this regard at a press conference.

He said the Bank's business had crossed Rs 91,000 crore as on date and it had jumped to the number one position among the nationalised banks in the country in terms of total business.

He said the bank planned to have at least 100 networked ATMs across the country by the next fiscal of which 53 would be in Chennai circle. On the technological front the Bank would be spending about Rs 250 crore in the next fiscal towards computerisation and introduction of "anywhere banking" covering the four metros besides Bangalore.

He said the bank's retail banking target for the next fiscal was around Rs 5000 crore of which the Chennai circle planned to disburse about Rs 550 crore.

Jospeh said the bank was going ahead with branch rationalisation adding that three branches in the Chennai circle had been merged this year. However plans were underway to open at least eight new branches in potential areas in the next fiscal, he added.

PTI