Financial Daily from THE HINDU group of publications
Saturday, Jun 10, 2006
Financial Daily from THE HINDU group of publications Saturday, Jun 10, 2006 |
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Money & Banking
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Public Sector Banks Corporation Bank aims at Rs 70,000-cr business Our Bureau
Visakhapatnam , June 9 Corporation Bank is aiming at a business mix of Rs 70,000 crore during the current year against Rs 56,000 crore (Rs 23,000 crore of advances and Rs 33,000 crore of deposits) achieved during 2005-2006. Mr B.R. Bhat, General Manager, said at a press meet here on Friday that the bank would lend Rs 28,000 crore during the current year and mobilise Rs 42,000 crore in deposits. During 2005-2006, the bank opened 58 new branches and during the current year 70 more would be added to the existing 835. Five of the new branches would be located in AP, one at Tanuku in West Godavari district next month. He said the bank had a large number of ATMs, currently 902, and the number would exceed a thousand during the year. He said the bank was a pioneer among public sector in offering cash management services to corporates and the turnover under CMS products exceeded Rs 1,12,000 crore. Many corporates in AP were availing themselves of the services, he added. In Andhra Pradesh, he said, the bank was concentrating on financing the self-help groups through the rural branches.
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