Corpn Bank sets sight on Rs one lakh cr

Chennai, Jun 20: The century-old public sector Corporation Bank has drawn up an ambitious plan to achieve Rs one lakh crore business in the next 30 months, its Chairman and Managing Director B Sambamurthy said today.

Addressing a press conference here in connection with the launch of a National SME Excellence Award to honour five outstanding SMEs in the country, he said the bank was confident of achieving the magic figure as it was well on the target.

He said four of the 18 zones of the bank had already doubled their businesses and the other zones were also expected to do well.

Once all the zones doubled their business, the bank would achieve the target of Rs one lakh crore business, he said.

Mr Sambamurthy said the bank would soon enter into an agreement with exchange companies in Quatar and Oman to enable Indians working in the countries to transfer money to their families in India through the bank.

The bank had received the consent letter and the agreement would come into force soon, he added.

UNI