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Thursday, April 25, 2013

Central Bank of India to expand ops in Himachal

State-owned Central Bank of India would expand its activities in Himachal Pradesh by financing the hydro power, horticulture, infrastructure development, tourism and other sectors and make planned efforts to increase the credit-deposit ratio, a top company official said.

The bank proposed to open 525 village branches and 25 ultra small branches in near future, bank's Chairman M V Tanksale told reporters here.

He added that despite of economic slowdown, the NPA of the bank was five per cent but in the state, the recovery was quite good and NPA was just two per cent.

The credit deposit ratio of the Bank was 35 per cent in the state but with 48 branches across the state, it has branch share of 2.94 per cent but market share of 3.91 per cent, even though it was not the lead Bank in the state, Tanksale said.

He said that the bank proposed to open 10 more branches in Himachal and majority of the branches would be opened in rural areas.

Tanksale said that the bank would focus mainly on priority sector lending in agriculture and allied activities, housing, education, small and medium enterprises in a big way during the current financial year.

The bank has 4,300 branches and 2,500 ATMs across the country, he said.

Source: Economictimes


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