CORPORATION BANK EYES RS 5-LAKH CR BIZ

According to Mr. Ramnath Pradeep, Chairman and Managing Director, Corporation Bank is eyeing a business turnover of Rs 5 lakh crore by 2014-15.

He said this while presiding over a function to felicitate two former Corporation Bank executives who are the CMDs of other public sector banks in the country – Mr M.D. Mallya, CMD of Bank of Baroda, and Mr M. Narendra, CMD of Indian Overseas Bank –.

The recent board meeting of the bank has deliberated upon the idea of increasing the business of the bank to Rs 5 lakh crore by 2014-15.

To achieve this, the growth rate has to be more than that of others. It should be in the range of 30-35 per cent.

The bank has 1,184 branches. It has plans to open around 200 branches every year. Mr B.R. Bhat, General Manager of Corporation Bank, and Mr U.B. Bhat, Chief General Manager of the bank, explained their experiences with Mr Mallya and Mr Narendra during their tenure at Corporation Bank.

SOURCE: http://www.thehindubusinessline.com/2010/11/17/stories/2010111752781000.htm