Target to reach Rs 1.10 lakh cr business by 2010: Vijaya bank

Public sector Vijaya Bank plans to add 100 new branches during this fiscal, of which 14 would be in Tamil Nadu, a top bank official said today.    

"The increased fleet of branches and a host of IT-enabled alternative delivery channels would help the Bank reach a business level of Rs 1.10 lakh crore by March 2010," Albert Tauro, chairman and managing director of the bank said, on the sidelines of the Small and Medium enterprise 'SME' branch shifting function here.    

The bank's endeavour was to facilitate good growth in the highly potent Micro SME segment, more particularly in States like Tamil Nadu and centres like Coimbatore, Tauro shared.    

Stating that the bank has 11 designated SME branches of which three are in Tamil Nadu, he said that the State accounted for about 10 per cent of the Bank's total MSME portfolio of rs.4,607 crore.    

The bank has so far restructured 187 MSME accounts in the State, involving a book balance of rs.36 crore, he said adding that the bank has a Credit Deposit Ratio of more than 100 per cent in Tamil Nadu.    

The bank, as part of addressing various issues faced by the segment, had conducted 22 SME meets at important centres in India during recent months, Tauro said.