The Hindu : Karnataka / Shimoga News : Ensure better recovery, bank managers told

Online edition of India's National Newspaper
Tuesday, Jul 20, 2004

Karnataka

Karnataka - Shimoga

Ensure better recovery, bank managers told

By Our Special Correspondent

The Vijaya Bank General Manager, S. Laxmikanth Hegde, addressing the meeting of the branch managers in Shimoga on Monday. The Chief Manager, R. Balakrishna (centre), and the Assistant General Manager (Shimoga region), S. Satish Shetty, are seen.

SHIMOGA, JULY 19. The General Manager of Vijaya Bank, S. Laxmikanth Hegde, has asked managers and other executives of the bank to diversify the bank's products such as credit cards and insurance schemes so that its profit level is maintained.

Addressing the managers of the branches of the bank coming under the jurisdiction of the Shimoga region here on Monday, he advised them to implement the Securitisation Act effectively to ensure a better recovery from non-performing assets.

He said it was with an effective follow-up that the recovery of loans could be improved.

Mr. Hegde said that the bank had shown an improvement in the recovery of loans under NPAs, which stood at 0.91 per cent. He asked the managers to implement the recommendations of the Basle Committee Report to continue to maintain the growth of the bank.

He said that the bank achieved 28 per cent growth rate with an increase in its advances by 38.5 per cent and a profit of Rs.411 crore in the previous year.

It had topped the list of the 19 nationalised banks fulfilling 30 parameters fixed for the assessment of the performance of the banks.

Mr. Hegde presented awards to Basaraj Sadagol, Manager of the bank's branch at Hiriyur, for mobilising savings bank deposits of Rs. 24.48 lakh, which was the highest in the region. He also presented a prize to Venkatesh, manager of the Rangenahalli branch, for winning the Indira Gandhi Shield for ensuring the effective implementation of Hindi language (Raj Bhasha) in the administration of his branch.

The Assistant General Manager of the bank (Shimoga region), S. Satish Shetty, said that there were no loss-making branch of the bank in the region which had 54 branches and added that Chitradurga was the only branch that had achieved the targets set for it last year under deposit mobilisation and advances.

He said that while eight of the branches in the region were fully computerised, efforts were on to computerise the remaining branches.

He said that the region had made advances of Rs. 276.81 crore as against the target of Rs. 233.93 crore.

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Ensure better recovery, bank managers told