Corporation Bank opens SME branch in Pink City

Jaipur, Jun 5 (KNN) In order to promote financial inclusion, public sector lender Corporation Bank has opened an SME loan centre at Jaipur which houses many SME clusters such as gems and jewellery, garments, etc.
 
“SME clusters such as gems and jewellery, ball bearing, electrical and mechanical engineering equipment, lime, garments and food products in and around Jaipur would benefit with this new initiative,” said Chairman and Managing Director of the bank, S R Bansal.
 
Corporation Bank registered 16.07 per cent growth in total business for the fiscal-ended March 2014  at Rs 3,30,479 crore as compared to Rs 2,84,722 crore in the previous year. For the first time, the bank has crossed the Rs 3 lakh crore mark in total business this year.
 
MSE advances of the bank stood at Rs 23,816 crore as on March 31, 2014 as against Rs 18,555 crore as at March 31, 2013, showing y-o-y growth of 28.35 per cent. 
 
The bank has crossed a branch network of 2,000 and ATM network of 2,000. The bank's network is spread across 8,617 functional units, with 2,021 branches, 2,264 ATMs and 4,332 branchless banking units.