Vijaya Bank targets Rs 1 cr turnover by Mar 2009

Mangalore, Nov 10 (UNI) Public Sector Vijaya Bank has targeted to achieve a total turnover of Rs one lakh crore by March 2009, its Chairman and Managing Director Albert Tauro said today.

Addressing a press conference here, he said the bank had achieved a total business of Rs 89,300 crore as on September 30, 2008, registering a growth of 30 per cent.

He said the bank, driven by a 37.2 per cent growth in its Net Interest Income (NII), posted a net profit of Rs 80 crore for the second quarter of the current fiscal year.

Mr Tauro said the CD ratio of the bank was above the national average which was at 69 per cent.

The bank had disbursed a total of Rs 376 crore towards education loans, of which Rs 171 crore was in Karnataka.

96 per cent coverage of its business was from its 845 CBS branches in the country, he said, adding the bank has targeted to bring all the branches under CBS network to achieve 100 per cent business by March 2009.

UNI MA MDG 1735