The public sector lender, Corporation Bank in order to make up for the slowing corporate credit offtake, the bank has sharpened its focus on its retail loan portfolio. The bank has also announced special schemes to boost auto loans.
Mr. S. Pattabiraman, General Manager, Chennai Circle, said the bank has a retail loan portfolio of Rs 3,400 crore from across the country during the five-month period September 1, 2012, to January 31, 2013. Among this, home loans accounted for Rs 1,800 crore and car loans, Rs 900 crore.
He said, "We see big room for growth in these areas." Corporation bank is also looking to disburse at least Rs 800 crore during its 15-day bumper car carnival. The special car loan offer comes at an interest rate of 10.4 per cent and with ‘no processing fee'.