Central Bank aiming for credit growth of 25% in FY11

State-owned Central Bank of India is aiming for a credit growth at least 25 per cent this fiscal, a top bank official said.

"Last year (FY10), our credit growth was 23.5 per cent. This year, our credit growth should be at least 25 per cent, higher than the industry average," Central Bank's Chairman and Managing Director, S Sridhar, told reporters here today.

The bank would get a capital infusion of Rs 250-crore from the government by May this fiscal to strengthen its Tier-I capital, Sridhar said.

"We have received Rs 450-crore capital infusion from the government in FY10 and expect to get another Rs 250-crore by May this fiscal. This amount will strengthen our Tier-I capital," he said.

The public sector lender has sought another Rs 2,000-crore capital infusion (from the World Bank fund) from the government in 2011-12 to strengthen its capital base.

"We have requested for recapitalisation of Rs 2,000-crore from the government to strengthen our capital base. We expect to get this amount in 2011-12 in tranches -- it will boost our capital adequacy," he said.