Corporation Bank lends growth focus in Andhra
By Neelima Shankar
May 19, 2011
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Public sector lender Corporation Bank has its eyes on the state of Andhra Pradesh as part of its growth plans. The lender aims to double its business in the state in this fiscal, informed CMD of the bank, Mr Ramnath Pradeep.

He said that presently the business of the bank from the state amounted to Rs 10,000 crore. It presently has 113 branches in the state.

"We are targeting at achieving Rs 1 lakh crore business for the current financial year, which is a very tough task. However, we would be happy if we could do Rs 65,000 crore business," he added.

The bank also plans to add 200 more branches to its network in this fiscal.

Also overseas expansion plans of the bank include setting up branches in Hong Kong, Tanzania, Nepal and Vietnam.

Pradeep informed that the bank laid its prime focus on home loans and education loans.


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