Corporation bank plans to increase the business in Andhra by 100 per cent

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Corporation bank plans to increase the business
Corporation bank is planning to increase the business in Andhra Pradesh by 100 per cent to Rs. 20,000 crore from the existing Rs. 10,000 crore. The company is having 113 branches in the state.

The bank"s overall business stands at Rs. 2 lakhs crore for the year ending March 2011 and is targeted to achieve Rs. 2.65 lakhs crore for the current fiscal and to Rs. 5 lakhs crore by March 2015.

To achieve such a mammoth target, the bank is focusing on value added services like educational and housing loans. More impetus is given to provide loans to small and medium enterprises and retail business and recovery of extended loans.

For the financial year ending March 2011, the bank reported a growth of 30 per cent in deposits, 37.42 per cent in advances and 25.87 per cent rise in investments. The Corporation bank is planning to add 200 branches to its 1,361 existing branch network across the country.

Read more about: corporation bank, bse, nse
Story first published: Friday, May 20, 2011, 9:30 [IST]
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