Corporation Bank plans big expansion by opening 300 new branches beyond Southern states in this financial year (2012-13).
Mangalore headquartered public sector lender Corporation Bank plans to open 300 new branches beyond Southern states in this financial year to it’s improve rural penetration. The bank is eying retail banking including gold loans and SME credit market to achieve 15 and 16% growth respectively in advances and deposits in the current financial year.
The state-owned bank is undergoing aggressive branch expansion focusing by opening 300 new branches mainly in states like Gujarat, Rajasthan, Bihar, Punjab, Orissa and Jharkhand. To tap rural markets, the bank is targeting to open 200 branches in rural and semi urban branches in the country mainly beyond Southern states. The bank has network of 1800 branches mainly in Southern states.