BoB zone targets 20% core deposit growth

 Deputy general manager S P Agarwal, who is in charge of the zone, said while the core deposits of the zone stood at Rs 5,284.39 crore as on March 31, 2003, the bank expects this to rise to Rs 6,200 crore by the end of the current fiscal year.

 The core deposits at the end of the first half of the fiscal year ended September 30, 2003, stood at Rs 5,502.39 crore, he said. Agarwal said both the current deposit as well as the saving deposit levels are satisfactory and competitive targets have been set for the year.

 He said current deposit for the zone which stood at Rs 392 crore at the end of the last fiscal year, is expected to grow to Rs 470 crore by the end of the current fiscal year.

 Savings deposits which stood at Rs 1,277 crore as of March 31, 2003, will grow to Rs 1,545 crore by March 31, 2004, he said. The zone also expects an increase of over Rs 100 crore in the FCNR deposits to Rs 669 crore by the year end from Rs 558 crore.

 The zonal manager said he expects priority sector advances to increase from Rs 774.6 crore to Rs 920 crore during the current year.

 Advances to the agriculture sector which stood at Rs 322 crore at the end of the past fiscal, will increase to Rs 385 crore by March 2004, Agarwal said.

 Agarwal said retail credit, which stood at Rs 181.2 crore as on March 31, 2003, will increase to over Rs 310 crore by the end of the present year.