Vijaya Bank aims to target Rs. 1 crore business

Visakhapatnam, March 20, 2007

CMD hopes to reach by 2010

The Chairman and Managing Director of Vijaya Bank Prakash P. Mallya, speaking to media said that the Vijaya Bank is aiming at a business of Rs. 1 crore by 2010 from the present 60,000 crore comprising Rs. 36,000 crore deposits and Rs.24,000 advances. It also targeted to capture 80 percent of the business under Core Banking Solutions by March 2007 by opening all new branches under Core Banking Solutions.

He said that the Bank has on date 953 branches across the country and the gross non performing assets stood at 2.51 percent which is the lowest in the industry and the credit deposit ratios is pegged at 62.35 percent. In respect of the performance of the bank in the State, he said Hyderabad and Vijayawada regions recorded gross profit of Rs. 2.98 crore for the quarter-ended December an increase of 131.01 percent.

He added that the bank will open two more new branches in the city by March, one at LIC Building and the other at Government General Hospital, Kakinada. With this, the bank’s branch net work will grow to 41 in ten districts.

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