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Public sector lender, Corporation Bank, is expecting a credit growth of 25 per cent and deposits to expand by 22 per cent in 2011-12, a top bank official said.
“According to my estimates, our deposit growth will be around 22 per cent and credit growth 25 per cent (in FY 12),” the Managlore-headquartered bank’s Chairman and Managing Director, Mr Ramnath Pradeep, told reporters on the sidelines of an event here today.
The bank will be focusing on the retail, micro small and medium enterprises, and agriculture to achieve the growth, Mr Pradeep said, stressing that an economy projected to grow at 8.5 per cent requires a ramp-up in lending.
The bank’s zonal heads would be meeting here over the next two-days for arriving at an exact target on the two critical parameters, he said.
When asked if the bank will emulate its peers like Oriental Bank of Commerce and cut its deposit rates, Mr Pradeep said, “any revision in either deposit or lending rate will happen only after the RBI’s policy (on May 3)...right now we don’t find any need to.”
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