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Corporation Bank To Add 300 Branches More In Gujarat, Rajasthan, Orissa and Jharkhand

Corporation bank is planning to big expansion for the current financial year. This plan is on opening 300 new branches beyond Southern states. This expansion is for them to penetrate more in the rural market. The company is having their eyes on retail banking such as gold loans and SME credit market. They are planning to achieve a 15 and 16 per cent growth.

Corporation Bank Logo

Corporation Bank Logo

In the last fiscal year, the bank only had Rs 2,000 crore for the gold loan market and for the current year, they plan to boost it to Rs 5,000 crore. According to the chairman & managing director of Corporation Bank Ajai Kumar, other big companies are already giving gold loans in a big way and they have to compete with it.

This type of loan would be advantageous to farmers that are not covered under agriculture credit. The areas where the expansion would be visible are on states like Gujarat, Rajasthan, Orissa and Jharkhand.

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