Corporation Bank Inaugurates SME Loan Centre in New Delhi

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Mangalore, Nov. 30: Corporation Bank, a premier Public Sector Bank opened its exclusive fully furnished SME Loan Centre at New Delhi, on 30th November 2013. S.R. Bansal, Chairman & Managing Director of the Bank inaugurated the SME Loan Centre.

With a view to catering to the SME segment in a big way, the Bank launched exclusive SME Loan Centres in various cities across the country. With the launch of New Delhi (North) SME Loan Centre – the total number of SME Centres have increased to seventeen. Bank has plans to open nine more centres during the current financial year. Each SME Centre is ably supported by dedicated team of Relationship Managers backed by credit processing mechanism.

As on 30.09.2013, the SME portfolio of the Bank stood at Rs.21,978 crore. As against Rs.19,517 crore as on 31.03.2013. The net increase is to the extent of Rs.2,461 crore. Out of the SME portfolio, advances under the MSE stood at Rs.20,962 crore as at 30.09.2013 as against Rs.18,555 crore as on 31.03.2013. The net increase is the extent of Rs.2,407 crore.

The Bank through the SME Loan Centres have accorded a cumulative sanction of Rs.3,006 crore in 2,281 accounts from April to October 2013 during the current year.

Along with the Customer Centric approach, Corporation Bank aims for focused growth by adopting a targeted marketing approach that would help entrepreneurs convert their business blue print into a reality not only at a competitive cost but in a shortest possible time.

For the year 2012-13, Bank has been awarded First Prize under National Award for Excellence in MSE Lending and Second Prize under National Award for Excellence in Lending to Micro Enterprises by the National Committee under the Ministry of MSME.

N.B.Kulasekaran, Circle General Manager, M.A.Rasheed, Deputy General Manager & Zonal Head, New Delhi (North), other executives of the Bank and esteemed customers of the Bank were present on the occasion.

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