Karnataka - Bangalore   

‘SME Loan Factory’ opened

Special Correspondent

Bangalore: Bank of Baroda has opened a special centre for processing loans of small and medium enterprises called “SME Loan Factory” at Jayanagar here.

“These loans are for enterprises with a turnover of up to Rs. 100 crore and [they] add to our portfolio of tailor-made products for various customer segments,” Assistant General Manager for Karnataka, Poornima Engineer, told reporters here on Friday.

During the fiscal 2006-07, the bank’s operations in Karnataka had surpassed all targets set, recording a net profit of Rs. 31.56 crore, a 36.50 per cent growth over the previous year while the ratio of non-performing assets had come down by 13.88 per cent, she said.

Total deposits last year grew by 83.26 per cent to reach Rs. 1,846.29 crore.

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