Corporation Bank, Mangalore-based lender is likely to focus on northern and western India for expansion. It has opened 12 new zonal offices aiming to expand branch network rapidly in northern and western parts of the country.
The bank plans to focus Gujarat, Rajasthan, Punjab and Haryana for the expansion. It is likely to open SME loan centers across the country. First such centre will be opened in Pune zone which already has 53 branches and 45 ATMs and contributed a business of Rs 6,900 crore as on March 31, 2012.
The bank has reported a rise of 5.18% in its net profit of Rs 402.22 crore for the quarter ended December 31, 2011 as compared to Rs 382.42 crore for the same quarter in the previous year. Total income has increased by 39.08% from Rs 2,735.74 crore for Q3FY11 to Rs 3,804.50 crore in the quarter under review.
