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A.J. Vinayak

Mangalore , July 14

IN order to give focussed attention to retail lending, the Mangalore-based Corporation Bank plans to set up exclusive retail hubs in the country.

Based on the recommendations of the Boston Consultancy Group (BCG), the bank has decided to set up 15 retail hubs in the country during the current financial year. BCG was appointed by the bank to examine options suited for its growth in various areas.

Sources in the bank told Business Line that there was potential to set up 45 retail hubs across the country. These hubs would be specialised branches offering various retail lending products under one roof.

Two hubs would be opened in the next two months, both in Karnataka, they said. There are also plans to convert the branches of Corpbank Homes Ltd — a fully owned subsidiary — into retail hubs after its merger with the bank. Corpbank Homes Ltd has eight branches in the country. However, these branches will not come under the 15 retail hubs targeted for this year.

The bank's share of retail lending to net bank credit stood at 31 per cent (Rs 5,750 crore) as on March 31, 2005. Nearly half of the retail lending was dominated by housing loans at Rs 2,965 crore during that period.

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