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Corporation Bank will open around 300 branches this fiscal, according to its Chairman and Managing Director, Ajai Kumar.
The bank opened 207 branches in 2012-13, and is planning to open around 300 more this fiscal and another 900-1000 in the next three years, he said at the 16{+t}{+h} annual general meeting (AGM) here on Tuesday. Currently, the bank has 1,707 branches.
He said the number of ATMs would be increased from the present 1,400 to 5,000 in the next three years. Every branch would have an ATM, he said.
KYC, NPA
As regards fulfilling know-your-customer (KYC) norms, Ajai Kumar said that this is a regulatory requirement and the even old customers have to adhere to them.
On non-performing assets (NPAs), the chairman said despite the economic slowdown, the bank managed to recover/upgrade loans worth Rs 1,509 crore in 2012-13 against Rs 758 crore in the previous fiscal.
The bank, he said, is among the top five public sector banks in almost 13 parameters.
The shareholders approved a resolution to pay a dividend of Rs 19 per equity share of Rs 10 each for 2012-13.
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