Vijaya Bank sets target of Rs 60,000 crore for March-07

Visakhapatnam, Mar 20 (UNI) The Vijaya Bank Chairman and Managing Director Prakash P Mallya today said the bank has set a business target of Rs 60,000 crore for March 2007, comprising deposits of Rs 36,000 crore and advances of Rs 24,000 crore.

Talking to newspersons here, he said the bank would add 50 new branches to its present number of 953 branches, across the country, this year. The bank launched the financle supported core banking solution during the year 2004. Now with more than 455 business outlets the bank covered over 78 per cent of the total business under the core banking services coverage, he added.

Mr Mallya said Vijaya Bank was the first bank to open fully computerised capital market services branch and funds transfer service branch in the country.

The financial service provided by the bank to the Self Help Groups in Andhra Pradesh was appreciated by the Chief Minister Y S Rajasekhara Reddy.

Mr Mallya said the disbursement of agriculture advances during the current year was 179 crore, as against the year end target of 175 crore.

The Andhra Pradesh region of the bank had given an amount of Rs 40 crore as loan to the tobacco farmers, he added.

UNI