Syndicate Bank is in the process o setting up Centralised Processing Cells (CPC) for SMEs across various clusters.
The bank plans to open one such CPC in Coimbatore soon.
Disclosing this to reporters, the bank’s Executive Director M Anjaneya Prasad said that Coimbatore being an SME hub is an important destination for the bank to set up such a cell, as it would facilitate quick and focused processing of applications.
"We will continue to focus on SME and mid-corporates. Fifty out of the 400 branches that we propose to open during the current fiscal, would be specialised branches like Mid-Corporate and MSME branches to give focused attention to target group borrowers," emphasising the bank’s strategy and focus on target groups.
The bank has introduced SyndMarble, Doctor, Textile, Cashew and Transport to meet the specific credit needs of such groups, he added.
The bank’s ED was in the city to inaugurate a Mid-Corporate Branch at R S Puram .A similar branch is to be opened at Chennai soon, he added.