Mangalore, Dec. 7: Corporation Bank, a premier Public Sector Bank opened its exclusive SME Loan Centre at Mumbai, on 6th December 2013. Shri.S.R.Bansal, Chairman & Managing Director of the Bank inaugurated the fully furnished SME Loan Centre. Shri B.B.Tejappa, Circle General Manager, Shri.S. Prakash Nayak, Deputy General Manager & Zonal Head, Mumbai, other executives of the Bank and esteemed customers of the Bank were present on the occasion.
Among the various initiatives taken by the Bank, SME Loan Centre concept of having dedicated Relationship Managers backed by exclusive processing team has become successful in rendering timely and hassle free credits to SME entrepreneurs. The Mumbai SME Loan Centre will focus on the industrial estates in Mumbai and cater to the needs of the SME entrepreneurs.
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.
From April to October 2013, these SME loan centres have accorded a cumulative sanction of Rs.3,006 crore in 2281 accounts.
Corporation Bank is committed to extending best services to Micro, Small and Medium Enterprises at very competitive prices. It will remain a hand holding partner in realizing the entrepreneur’s dreams.
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.
