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Sunday, October 28, 2012

Corp Bank aims to sanction Rs 7,000 cr loans in festive season

Seeking to aggressively expand business in the retail segment, Corporation Bank today said it aims at providing Rs 7,000 crore loan in the ongoing festive season.

“The bank aims for total disbursement of Rs 7,000 crore pan-India, including Rs 1,000 crore in Delhi and NCR region, this festive season,” S M Swathi, General Manager (Delhi Circle), Corporation Bank said.

She also said the bank expects to achieve 40-48 per cent growth in retail portfolio, including home and car loans during the year.

“We have already achieved 24 per cent of growth in retail and expect to achieve 40-48 per cent this year,” Swathi said after inaugurating the bank’s ‘Home Loan Expo’ in Gurgaon.

The state-run bank will offer home loan at base rate with no processing charges to the customers who will book property at the expo.

With a view to cater to the SME segment, the bank has launched exclusive SME Loan centres in 14 cities across the country, she added.

To encourage SME entrepreneurs, the bank has recently launched a festival loan bonanza for them, under which it would offer 50 basis points concession on interest rates applicable on 10 SME credit schemes.


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