Corporation Bank eyes 15% growth in advances; no new branches immediately

The state-run bank has no plans to open new branches immediately

Public sector lender Corporation Bank is aiming for a 10-15 per cent growth in advances during this financial year compared to about Rs 120,000 crore clocked in last fiscal.

The total business of the bank was Rs 3,05,819.05 crore as on March 31, 2019 as against Rs 3,03,184.79 crore on March 31, 2018, aggregated by deposits of Rs 1,84,567.84 crore and total advances worth Rs 1,21,251.21 crore (as on March 31, 2019).

“We have set a modest growth target of 10 to 15 per cent rate during this financial year. The loans will be advanced to agriculture, MSMEs (micro, small & medium