Corporation Bank is expecting its credit growth to pick up more than double to 12 percent in FY16. The bank recorded a loan growth of 5.8 per cent during the fiscal ended March 2015 as it carried a re-balancing exercises during the year.
Under Pradhan Mantri Jan Dhan Yojana, the state-owned bank has opened 23.45 lakh basic accounts with an outstanding balance of Rs 571.23 crore as on July 12. The average balance in the non-zero balance accounts is Rs 3,342 per account as against the national average of Rs 2,435.
