The Hindu Business Line : Vijaya Bank eyes acquisitions

Vijaya Bank would, during the next fiscal, look at acquiring or consolidating with a mid-sized or smaller bank to catapult itself into the league of large banks, its Chairman and Managing Director, Mr Prakash P. Mallya, has said.

"We are now a strong mid-sized bank and from here we want to become a bigger bank. We will take steps towards this end after March 31, 2007," Mr Mallya told reporters after opening a new branch at Paschim Vihar in the Capital on Monday.

He indicated that the target bank would most likely be in the North or in the Eastern part of the country, where Vijaya Bank does not have a significant presence.

Vijaya Bank has in all 927 branches and 430 of them are located in Karnataka. The Paschim Vihar branch is the 31st branch of the bank in Delhi.

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