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CORE BANKING BRANCH: Mr R. Rajamani (right), Managing Director, MRPL, and Mr B. Sambamurthy, CMD, Corporation Bank , at the launch of the core banking solution at Kuthethur branch in MRPL Township in Mangalore on Monday.

Mangalore , July 3

Corporation Bank has plans to increase the number of branches to 1,000 from the current level of 840 in the next 16 months.

The bank also plans to add around 100 new ATMs by March 2007. The bank opened its 905th online ATM at Kuthethur branch at MRPL (Mangalore Refinery and Petrochemicals Ltd) Township on Monday.

Mr R. Rajamani, Managing Director of MRPL, inaugurated the ATM and the core banking facility at the branch.

Core competence

Mr B. Sambamurthy, Chairman and Managing Director, said that the bank was strong in its technology initiatives and in maintaining personal relationship with its customers.

"That is our core competence," he said. The bank will support the growth plans of MRPL, he added. Meanwhile, a statement issued on the occasion said that the bank proposed to cover all feasible branches under core banking facility during the next one year.

At present, 568 branches of the bank are under the core-banking network, covering 88 per cent of the bank's business.

The bank has finalised a medium-term plan of reaching a total business level of Rs 1 lakh crore by March 2009.

The bank has set a target of Rs 70,000 crore for the current fiscal.

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