Corporation Bank, the Mangalore-based lender is reportedly planning to disburse around Rs 10,000 crore for the agriculture sector during the financial year 2013-14. To reach this target, the bank is also planning to recruit more agriculture officers and to give focussed attention through agriculture business development centres. The bank has decided to take agricultural lending to 13.5% of its total credit portfolio during the fiscal.
The bank has reported a rise of 2.09% in its net profit at Rs 377.98 crore for the first quarter ended June 30, 2013, 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.
