The Hindu : Business : Vijaya Bank to focus on retail, MSME sectors

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Tuesday, May 31, 2011
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Business

Vijaya Bank to focus on retail, MSME sectors

Corporate Reporter

H. S. Upendra Kamath

CHENNAI: Vijaya Bank aims to achieve a business mix of 1.53 lakh crore in the 12 months ended March 31, 2012, with a year-on-year growth of about 22 per cent and an operating profit of Rs. 1,500 crore, according to H. S. Upendra Kamath, Chairman and Managing Director.

Addressing presspersons here on Monday, Mr. Kamath, in his first visit to Chennai, after assuming charge as CMD, said the bank would focus more on retail and MSME segments in the current year targeting a growth of 20 per cent under retail and 30 per cent in MSME advances.

The bank would open 11 to 15 centres during the year and set up a marketing team for all these centres. By June, three centres would be opened in Delhi, Mumbai and Bangalore.

Net interest margin had improved to 3.04 per cent from 2.54 per cent. Capital adequacy ratio was at 13.88 per cent against 12.50 per cent.

Mr. Kamath said the bank would increase CASA (current account savings account) share to 30 per cent in the next two years. In 2010-11, CASA registered a growth of 21.32 per cent, the share being 25.25 per cent of total deposits.

During the year ended March 31, 2011, 42 branches and 110 ATMs were opened taking the branch and ATM network to 1,200 and 545 respectively.

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