Date:30/03/2008 URL: http://www.thehindu.com/2008/03/30/stories/2008033056201200.htm

Business

Vijaya Bank on track with business target

Staff Correspondent

MANGALORE: Vijaya Bank is on track to meet its expected business target of Rs. 100,000 crore by 2010 and may end up achieving it a year earlier, according to Chairman and Managing Director, Prakash P. Mallya. The bank as on Friday had achieved a total business of Rs. 78,600 crores, Mr. Mallya said and added, “It is my gut feeling that the bank will breach the Rs. 100,000 crore business target by March 2009.”

Addressing media persons after inaugurating the bank’s 1,047th branch at Bajpe, near here, on Saturday, Mr. Mallya said he was quite satisfied with the growth achieved by the bank. Bank’s deposits have shown an increase of 25 per cent and advances 26 per cent. The bank started its deposit mobilisation drive early in December and this has yielded results.

“We will open our 1,051st branch at Sunkadakatte in Bangalore on Monday,” he said.