The Hindu Business Line : Vijaya Bank biz volume rises to Rs 66,000 cr

Madurai, Sept. 9 ‘With a lift in the volume of business of more than Rs 22,000 crore since March 2006, our bank has moved from a small bank to a mid-sized bank in the country. Within a year and four months, the business volume which stood at Rs 44,471 crore in March 2006 has risen to around Rs 66,000 crore at present. Our aim is to register a business volume of Rs 1 lakh crore by 2010 with focus on SMEs, retail business and infrastructure,” Mr T. Valliappan, Executive Director, Vijaya Bank, said here. Recently, the bank joined the consortium of banks sharing ATMs and paved the way for its customers to access 65,000 ATMs in the country apart from its 171 ATMs, he said addressing press persons after inaugurating the CBS (Core Banking Solution) facility at its main branch, coinciding with the shifting of the branch to a new premises at TSP Towers at West Masi Street here.

The bank has 987 branches across the country including 26 branches in the North-Eastern States with a business volume of more than Rs 2,000 crore. The network would be increased to 1,050 by March next. At present, 475 branches are under CBS facility.

By March 2009, all the branches would be brought under this facility.

The rural braches are equipped with solar power system and provided with V-sat connectivity to facilitate operation of ATMs. The bank is geared to opening one million no-frill accounts and 3 lakh accounts have already been opened, he said.

Referring to the Chennai region, Mr Valliappan said that six more branches would be added to the existing 60 branches, 5 offices and 13 ATMs. 94 per cent of the total business, out of Rs 3,748 crore in the region, has been covered under CBS facility.

To a query on branch expansion abroad, he said that license has been sought from the Reserve Bank of India to open a branch or a representative office in Dubai, Hong Kong and China and by March 2008, at least one would start operation. On acquisition, he said ‘already we are in the look out for one’.

More Stories on : Performance | Public Sector Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Hindi Week at SBI

RBI’s Annual Report for 2006-07 — Telling a credible story

Insurers’ support keeps bonds firm

IL&FS inks MoU for Rs 5,000-cr investment in Gujarat

Recovery ratings of NPAs soon

Enhanced credit flow to SMEs planned

Banks’ profit, assets quality may decline in 2007-08: Study

Vijaya Bank biz volume rises to Rs 66,000 cr