Corporation Bank Opens SME Loan Centre in Chennai

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Mangalore : Corporation Bank, a premier Public Sector Bank opened its exclusive SME Loan Centre at Chennai, on 3rd February 2014. Shri S R Bansal, Chairman & Managing Director of the Bank inaugurated the SME Loan Centre. Shri R Natarajan Circle General Manager, Shri. P V Chandrasekaran, Deputy General Manager & Zonal Head, Chennai, other executives of the Bank and esteemed customers of the Bank were present on the occasion.

The SME Loan centre will focus on speedy delivery of credit apart from maintaining close rapport with SME Customers of Chennai through dedicated Relationship Managers. On the occasion Shri Bansal handed over loan sanction letters to 25 beneficiaries amounting to Rs. 22 crores and honoured four SME entrepreneurs for achieving excellence in their respective fields.

Bank is planning to open SME Loan Centres at Pune and Ludhiana during February 2014. By the end of March 2014, it is planned to open SME Loan Centres in top 20 centres of the Country.

In order to encourage and meet the financial requirements for Micro Enterprises (both in the Manufacturing and Service Sector) all over the country, Bank has launched a special campaign, “Corp Micro Plus” till 31st March 2014 with Rate of Interest at Base Rate (presently 10.25%) and no processing charges. 

As on 31.12.2013, the Small and Medium Enterprises (SME) portfolio of the Bank stood at Rs.23,069 crore with Y-O-Y growth of 31%.

From April to December 2013, SME loan centres of the Bank have accorded a cumulative sanction of Rs.2,991 crore in 4021 accounts.

Corporation Bank is committed to extend its best services to Micro, Small and Medium Enterprises at a very competitive price and shall remain a hand holding partner in a journey of togetherness 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.

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