Corporation Bank to mobilise 1 lk cr deposits

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Vijayawada, Nov 3: The Corporation Bank has set a target to mobilise one lakh crore deposits by 2008, its Chairman and Managing Director B Sambamurthy said.

Addressing the press here yesterday, he said the deposits of the bank stood at Rs 45,742 crore as on September 30, 2007, registering a 20.32 per cent growth.

Bank's gross profit stood at Rs 530 crore, a 24.79 per cent growth, during the first half of the fiscal.

Stating that there were six bio-metric ATMs in rural areas across the country, Mr Sambamurthy said it had extended loans to the tune of Rs 902 crore under priority sector advances and Rs 328 crore through agricultural advances.

To increase its customer base, under financial inclusion programme, the bank surveyed 2,68,468 households, resulting in the opening of 1,11,796 no-frills accounts in 1,202 villages, he added.


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