'Corp Bank to open 50 new branches this fiscal'

Panaji, Oct 28: Public sector Corporation Bank plans to open at least 50 new branches in the current fiscal.

The bank is also poised to reposition its premium products by converting the existing branches into ''sales and service units'' as part of its strategy to boost the business turnover, bank CMD B Sambamurthy said while speaking to reporters here today. As on September this year, the bank has 861 branches and 917 ATMs, he informed.

The business per employee of the bank was higher at Rs 6.13 crore compared to Rs 4.79 in September last year. More than 95 per cent of its business was brought under ''Core Banking Solution'' covering 730 branches, Mr Sambamurthy said.

The total income of the bank for the first half of this fiscal rose to Rs 1,863.13 crore from Rs 1,551.612 crore in the corresponding period of last fiscal, registering a growth of 20.08 per cent.

The gross NPA has also been brought down to 2.16 per cent compared to 3.33 per cent as on September 30, last year. The net NPA has been brought down to 0.48 per cent.

UNI