Vijaya Bank aims for higher growth, expansion

Public sector lender Vijaya Bank is aiming to achieve 20 per cent growth in advances and 18 per cent in deposits in the current financial year. Overall, the bank has a target of businesses worth Rs 1,53,000 crore, which includes Rs 90,000 crore under deposits and Rs 63,000 crore under advances for the year.

Currently, it is having a total business of Rs 1,22,206 crore, comprising Rs 73,630 crore under deposits and Rs 48,579 crore under advances.

“More thrust will be given for mobilisation of CASA (Current Account Saving Account) and it is our endeavour to achieve a minimum CASA level of 27 per cent by March 2012. To achieve this, the bank is moving from customer service to customer delight with improved counter service and widening of the client base. Also, more focus will be given to capturing the retail deposit,” Vijaya Bank Executive Director Shubhalakshmi Panse told Business Standard.

Currently, the CASA level is 22 per cent.

Pande added, “With a view to improve Priority Sector and Retail Advances, a separate road map is drawn, including opening of five more Retail Asset Centralised

Processing Cells (RACPCs) in addition to the existing 11. We are planning to open more ‘Jewel Loan Shoppe’ outlets in select centres and offer housing loan at cheaper rate of interest, easy repayment through tie-ups with builders and education loan by way of tie-ups with recognised colleges and universities.

The bank also plans to open centralised an SME loan processing centre for easy and quick disbursement to the medium and small enterprises (MSEs).”

Further, it would open 100 new branches across the country and install 750 ATMs during the current financial year. At present, it has a network of more than 1,200 branches in the country.

In the state’s northern areas, the bank plans to open branches at Kurukshetra, Jind, Rewari, Abohar, Ropar Lalru, Nakodhar and Mandi.

The Chandigarh region, consisting of 61 branches, is spread over six states and one Union Territory, with a total business of Rs 4,834 crore, comprising Rs 1,600 crore under deposits and Rs 3,234 crore under advances.