Vijaya Bank's authorised capital doubles to Rs 3,000 cr

Bangalore-based public sector lender, Vijaya Bank has informed the Bombay Stock Exchange (BSE) that its authorised capital has been increased from Rs 1,500 crore to Rs 3,000 crore. The bank has a network of 1,132 branches in the country.

The bank had reported a 7.3 per cent growth in its total business at Rs 95,878 crore for the quarter-ended September 30, 2009 compared to the same period last year. Deposits grew by 10.4 per cent to Rs 58,115 core, while advances were marginally up by 2.8 per cent to Rs 37,763 crore.

Priority sector advances of the bank aggregated to Rs 13,344 crore. Within priority sector advances, agricultural loans were of the order of Rs 4,305 crore, while loans to MSME sector clocked a 18.87 per cent growth to reach Rs 4,895 crore. Vijaya Bank’s Casa (current account and savings account) portfolio constitutes 24 per cent of the deposits. The bank has been looking at increasing it further to 25 per cent by end of March 2010.