Corporation Bank plans 1,000 branches

Corporation Bank plans 1,000 branches

He said the bank proposes to open 200 branches every year till 2014-15. “We want to make Corporation Bank truly national bank,” he said adding that at present, the bank’s major share is confined to Karnataka.

“The bank plans to increase CASA to 31 per cent from the existing 24 per cent,” he said adding that the bank will take steps to increase CASA support. He also said the bank expects business turnover to cross Rs 2 lakh crore by the end of this financial year.

Stating that there is a huge potential in roadside vendors/hawkers, he said there are many hawkers who earn Rs 5,000 to Rs 10,000 a day and the bank wants to target hawkers.

Besides hawkers, the bank would concentrate on institutions, its staff salary accounts, student educational loans and those who seek vehicle loans through which the bank can lend to housing/construction industry.

The bank intends to increase NIM (Net Interest Margin) from the existing 2.41 per cent to 3 per cent. The bank plans to bring NPA to 0.29 per cent from the existing 0.43 per cent by 2011. He said the education portfolio of the bank is Rs 870 crore (42,000 accounts).

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