The Hindu Business Line : Corpn Bank sets biz target at Rs 2,500 cr

Kochi, July 02 The public sector Corporation Bank has set a business target of achieving Rs2,500 crore in the current financial year in Kerala and has chalked out aggressive marketing of retail lending products, especially housing, vehicle and educational loans.

Mr M. Narayana Bhat, Deputy General Manager and Zonal Head of the bank, said the Kerala Zone showed a good performance in the last fiscal with Rs 1,900 crore business. Special focus will be given to increase lending to micro, small and medium enterprises, with special schemes for rice millers, he said.

The bank, with 62 branches and three extension counters in the State, has undertaken some process changes so that the loan applications can be processed at a faster pace at the branches, he said. Mr Bhat also inaugurated the Savings Bank Account Mobilisation Campaign 2008 here on Tuesday.

With a view to taking banking services to remotest locations in rural areas, the bank has launched a branchless banking project under which the bank uses modern, yet cost effective ICT technologies and services of business correspondents.

The rural people can conduct simple transactions related to savings and loans without visiting the bank branch. There are 105 such locations functioning spread over five southern states, he added.

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