Central Bank of India (CBI) will focus on retail loans in order to improve its credit deposit (CD) ratio, which is about 40 per cent in the east zone, comprising West Bengal, Sikkim and Orissa, at present.
Till December, the bank had a deposit base of Rs 10,242 crore and had given advances of about Rs 4,016 crore.
The share of retail advances in the zone was Rs 600 crore, which the bank aimed to increase to Rs 700 crore by the end of this fiscal, said B N S Ratnakar, general manager, Central Bank of India. In an attempt to boost its retail lending, the bank plans to covert ten out of its 350 branches in the region to retail loan boutiques, which apart from giving home, education, vehicle and other retail loans, will also give loans for purchasing auto rickshaws.
The bank plans to give Rs 90 lakh as auto rickshaw loans by the end of this fiscal.
Central Bank expects to improve its CD ratio to 50 per cent by the end of next fiscal.
By the end of this fiscal, the bank has set a target of mobilising deposits of Rs 10,921 crore, and giving Rs 4,350 crore as advances. The bank will open 20 more branches in the eastern region in the next one year.
The bank is also taking measures to mobilise current account and saving account (CASA) deposits, which at present in Rs 3,600 crore.
The Central Bank retail hub at its Salt Lake branch will disburse home loans for home decor, buying jewellery, national and international travels.
