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Canara Bank is looking at revamping its subsidiaries to improve fee income and maximise the investments it has made in the units.
The government-owned bank, which has units engaged in businesses such as mutual funds, insurance and housing finance, has appointed consultant KPMG as advisor.
"The mandate to the consultant is to advise... on how the bank can improve its fee income with the help of subsidiaries," said RK Dubey, CMD of Canara Bank. "The consultant will also advise the bank on measures to improve returns on investments made in the subsidiaries."
Non-interest income, which captures fee income such as that earned by selling third-party products and giving guarantees, has remained stagnant for Canara Bank at Rs 851 crore in the December quarter compared with Rs 845 crore a year ago.
Source: Economic Times
The government-owned bank, which has units engaged in businesses such as mutual funds, insurance and housing finance, has appointed consultant KPMG as advisor.
"The mandate to the consultant is to advise... on how the bank can improve its fee income with the help of subsidiaries," said RK Dubey, CMD of Canara Bank. "The consultant will also advise the bank on measures to improve returns on investments made in the subsidiaries."
Non-interest income, which captures fee income such as that earned by selling third-party products and giving guarantees, has remained stagnant for Canara Bank at Rs 851 crore in the December quarter compared with Rs 845 crore a year ago.
Source: Economic Times
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