Vijaya Bank targets total business of Rs 76,000 crore

Kolkata, Jul 24 (UNI) The Vijaya Bank has aimed to achieve a total business of Rs 76,000 crore comprising Rs 45,000 crore as deposit and Rs 31,000 crore as advance by the current fiscal, Chairman and Managing Director Prakash P Mallya said today.

Addressing mediapersons here, Mr Mallya said the Bank has also plans to increase the branch network to 1050 by March 2008, adding opening of the first overseas office of the Bank during the year was subject to obtaining clearance from the RBI.

Mr Mallya said the Bank's plans for technology upgradation include increasing the number of ATMs to 375 and extending Core Banking Solution (CBS) to 675 branches covering 90 per cent of the Bank's business.

'' We also propose to enter into ATM sharing with other Banks, through IDRBT during the year, '' he said.

Mr Mallya said the Bank's thrust on improving business volume, low cost deposit, retail and priority sector credit, non-fund business and recovery of non-performing asset would continue which would help to further improve the bottomline of the Bank during the current fiscal.

Referring to the business profile of the eastern region, he said the present level of the business of the region was Rs 2725.00 crore, adding, '' We aim at a business of Rs 3500 crore by this financial year. '' '' Out of 54 branches in this region, 47 are under CBS network covering 90 per cent of the business and we propose to migrate the rest of the seven branches within a month's period, aiming at 100 per cent business of the region under CBS, '' he maintained.

This would envisage to leverage the benefit of technology to enhance the overall business prospect of the Bank, Mr Mallya observed.

UNI