Financial Daily from THE HINDU group of publications
Monday, Nov 21, 2005
Financial Daily from THE HINDU group of publications Monday, Nov 21, 2005 |
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Money & Banking
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Society & Development Corpn Bank to set up libraries in seven AP villages Our Bureau
Visakhapatnam , Nov. 20 CORPORATION Bank is planning to set up libraries in seven villages of the State as a part of its centenary celebrations this year, according to Mr B.R Bhat, General Manager. At a customers' meet here recently, he said the bank would set up 100 libraries in the country and the main hi-tech library would be situated in Mangalore, the headquarters of the bank. The bank was planning to link all the libraries to the main one in Mangalore, he said. He said the net worth of the bank stood at Rs 3,284 crore with a capital adequacy ratio of 17.05. The bank's gross NPA was 3.33 per cent and the net NPA 0.98 per cent. The cash recovery during the first half of the financial year was Rs 76.98 crore. Mr Bhat said the bank proposed to bring 95 per cent of its business under core banking solutions by the end of the current financial year. Currently, 183 of its 515 branches were under core banking solutions. He said the bank was concentrating on giving education loans to eligible students. As a part of the centenary celebrations, the bank was giving scholarships to 100 students to pursue education up to the degree level, he added.
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