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Monday, Dec 13, 2004

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Money & Banking - Public Sector Banks


`Corporation Bank to focus on rural credit'

Our Bureau

Mangalore , Dec. 12

CORPORATION Bank will further strengthen its credit delivery to agricultural sector, Mr V.K. Chopra, Chairman and Managing Director, has said.

The bank will explore the possibilities of opening more branches in rural areas to cater to the needs of farmers and increase its avenues for channelising rural credit. Priority sector will receive greater focus of the bank, he said.

The bank will also step up its efforts to increase lending to small-scale industries, which constitute a significant portion of the priority sector. He said the bank's assistance to SSI sector would encourage entrepreneurship in rural and semi-urban areas. Stating that Corporation Bank has been setting benchmarks for performance in banking industry, he attributed this to the committed workforce and its urge to excel and the vast customer loyalty it has been enjoying over the years.

He termed technology and array of products and services as the strengths of the bank. Appealing to the staff to sharpen their marketing skills and harness the technological resources for new clientele acquisition,

Mr Chopra said that this would go a long way in expanding the clientele base and enhancing the share of demand deposit, which is critical for improving the profitability of the bank.

The Executive Director, Mr P.K. Gupta, said the entire workforce of the bank would strive unitedly and realise the goals set by Mr Chopra. Mr Chopra took charge as CMD of the bank on Thursday.

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