Mangalore, Dec.6: Corporation Bank, a premier Public Sector Bank opened its exclusive SME Loan Centre at Coimbatore, on 5th December.
Bibhas Kumar Srivastav, Executive Director of the Bank inaugurated the fully furnished SME Loan Centre.
V Thangaraju, General Manager, R Natarajan, Circle General Manager, Chennai, K Nagaraja Shetty, Deputy General Manager & Zonal Head, Coimbatore, other executives of the Bank and esteemed customers of the Bank were present on the occasion.
With a view to catering to the MSME segment in a big way, the Bank opened exclusive SME Loan Centres in various cities across the country. Each SME Centre is ably supported by dedicated team of Relationship Managers.
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 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 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.
The Bank has got major share of finance under textile segment in Tirupur, Coimbatore and other tier II and tier III centres in Tamil Nadu.
The Bank has entered into MoU with Baja Auto Limited, Mahindra Motors and Maruthi Suzuki India Ltd. to finance vehicles under the Credit Guarantee Scheme of CGTMSE.
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.
