Corporation Bank, a Mangalore-based lender is planning to open 9 new SME (small and medium enterprises) loan centres by the end of this financial year. Currently, the bank has 16 SME loan centres across the India and is planning to take the total number to 25 by March 2014. Meanwhile, the bank is also planning to enter into a tie-up with NITK-STEP to help entrepreneurs.
The bank has reported a rise of 2.09% in its net profit at Rs 377.98 crore for the quarter, as compared to Rs 370.26 crore for the same quarter in the previous year. Total income from operation of the bank has increased by 21.98% to Rs 4852.69 crore for the quarter under review as compared to Rs 3978.24 crore for the quarter ended June 30, 2012.
