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Corporation Bank to increase SME segments credit portfolio

19 Jan 2012 Evaluate

Corporation Bank, Mangalore-based lender is taking several initiatives for boosting the growth of the SME (small and medium enterprises) sector. The bank aims to lend around Rs 15,500 crore to the SME segment out of the targeted Rs 35,000 crore credit portfolio for the priority sector during the current fiscal.

Currently, SME credit portfolio of the bank was at around Rs 12,500 crore at the end of December and it aims to reach a figure of Rs 15,500 crore in SME lending this fiscal. It has created and launched several niche SME products to meet the needs and expectations of entrepreneurs. The bank has also adopted cluster-based approach for focused lending to SMEs.

The bank has inked pact with SIDBI for financing SMEs and also has opened specialized SME branches. As a process re-engineering measure, the bank proposes to establish ‘SME processing cells' in all zonal offices in the country. Under this, customers can go to any branch and submit their loan proposals, and the cell will process them.

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