Business Daily from THE HINDU group of publications
Thursday, Dec 21, 2006
ePaper
Business Daily from THE HINDU group of publications Thursday, Dec 21, 2006 ePaper |
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Money & Banking
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Public Sector Banks Vijaya Bank plans to expand `DD Shoppe' Our Bureau
Hyderabad , Dec. 20 Vijaya Bank plans to expand its `DD Shoppe', in all cities with high market activity in the next few months. It also wants to raise Rs 500 crore tier II funds and reach the 1000 branch network milestone by March 2007. The Demand Draft Shoppe, which gives customers the advantage of getting the draft up to 6 p.m., against the normal 3 p.m. will be opened in Mumbai, Chennai, Bangalore, New Delhi and Hyderabad to start with, said Mr T. Valliappan, Executive Director. For servicing the real estate sector, in which the bank has nearly 27 per cent exposure and structured loans such as housing and vehicle, Vijaya Bank is setting up centralised processing branches in major cities again in a phased manner, he told presspersons here today. The bank, which logged Rs 51,000 crore at the end of September 2006 aims to reach its target of Rs 60,000 crore by the end of the current fiscal. Its branch network would be increased to 1000 and ATMs to 250, said Mr Valliappan, who was in city to inaugurate two ATMs. Vijaya Bank also plans to raise Rs 500 crore through the tier II route before March 2007.
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