Corporation Bank clocks 16% growth in biz

Corporation Bank has registered a 16 per cent growth in business during 2011-12.

Speaking at the 40th year celebrations of Corporation Bank Officers’ Organisation on Wednesday, Mr Ajai Kumar, Chairman and Managing Director, said that the target was to reach around 25 per cent growth in business. However, the bank could achieve a growth of 15-16 per cent.

“I will not call it as a very good performance. But it is not a bad performance also. It is a pretty good performance after looking at the macroeconomic conditions in the country,” he said.

Stating that the growth was put into fast track in the last six months of 2011-12, he said the sanctioning of vehicle loan, housing loan and agriculture loan got doubled during the period. Priority sector disbursements also increased considerably.

“This shows the growth of the bank. We have to build upon that,” he said.

vinayakaj@thehindu.co.in