Corporation Bank’s thrust on the agriculture, MSME (micro, small and medium enterprises), and retail sectors led to impressive growth in advances during 2013-14, according S R Bansal, Chairman and Managing Director of the bank.
The total advances portfolio increased to ₹1,37,086 crore during 2013-14 as against ₹1,18,717 crore in the previous financial year, recording a growth of 15.47 per cent.
Of this, the three portfolios — agriculture, MSME, and retail — contributed a share of ₹67009 crore (₹54,132 crore).
The agriculture advances of the bank stood at ₹13,144 crore (₹9466 crore), recording a growth of 38.85 per cent during the year. Of this, the share of direct agriculture advances went up to ₹9,968 crore (₹6,707 crore).
The MSME portfolio of the bank reached ₹24,839 crore (₹19,518 crore), recording a growth of 27.26 per cent. Of the MSME portfolio, the share of MSE (micro and small enterprises) stood at ₹24,058 crore (₹18,555 crore).
The retail portfolio went up to ₹29,026 crore (₹25,148 crore), recording 15.42 per cent growth. Of this, the share of the housing loan portfolio touched ₹10,459 crore (₹8,801 crore) and vehicle loans ₹3,630 crore (₹3,319 crore) during 2013-14.
The bank is concentrating on these businesses for growth during the current financial year also, and is focusing on rebalancing its portfolios, he said.