Corporation Bank has opened an exclusive loan center to cater to the needs of small and medium enterprises (SME) in Chennai. Mr. Amar Lal Daultani, Executive Director of the bank inaugurated the branch. This is one of the many branches that the bank has opened in eight cities across the country.
The branch will be instrumental in the bank's efforts to grow in the SME sector, and at the same time help the SMEs grow.
The bank's SME portfolio as on 31st March 2012 was Rs. 14,542 crore as against Rs. 10,707 year ago. The SME credit's net growth is 25%. The micro and small enterprises contributed an addition of Rs. 3045 core during the last year.