Corp Bank to add three distinct veritcles

Mumbai, June 3 (UNI) Corporation Bank would expand its business by adding three distinct business verticles including SME financing, Corporate financing and retail business, according to a top official of the bank.

The bank is planning to setup separate divisions for SME finance, corporate finance and retail business segment, bank Chairman and Managing Director B Sambamurthy told mediapersons here today.

'' The SME operations will be centered at Pune, while corporate banking and retail operations would be controlled from Mumbai and Mangalore, respectively,'' Mr Sambamurthy said.

In the SME segment, loan dibursal has been considerably grew over 25 per cent at Rs 4,025 crore for the last financial year against Rs 3,210 in the previous fiscal, he said, adding that the bank was planing to setup a centers especially dedicated for the SMEs, the first center would come up at Pune.

Later, the bank would set up its exclusive centers at Mumbai and Mangalore for corporate and retail business, he asserted. However, Mr Sambamurthy declined to reveal the investment amount for the expansion plan of the bank.

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