Vijaya Bank has set a target of achieving a growth of 25.3 per cent in total business to Rs 210,000 crore during the current financial year (2013-14). For the fiscal year ended March 31, 2013, the bank reported a total business of Rs 1,67,531 crore.
It plans to increase the branch network to 1,500 and expand the ATM network also to 1,500 by March 2014, HS Upendra Kamath, chairman and managing director, said.
For the year ended March 2013, the bank recorded a 20.20 per cent growth in gross credit to Rs 70,514 crore as against Rs 58,671 crore. It recorded 16.80 per cent growth in aggregate deposits to Rs 97,017 crore as against Rs 83,056 crore in the previous year.
The CD Ratio increased marginally to 72.68 per cent as against 70.64 per cent in the previous year.
The priority sector credit increased 16.79 per cent to Rs 19,505 crore and infrastructure finance grew 83.1 per cent to Rs 20,539 crore. retail credit was up 20.33 per cent to Rs 13,447 crore as against Rs 11,175 crore.
The bank's housing loan portfolio has shown a growth of 7.5 per cent to Rs 4,477 crore as against Rs 4,165 crore.
During 2013-14, the bank has set a target of opening of seven HNI branches and more gen-next branches to suit the requirements of modern and elite customers. It also aims to shed its bulk deposits and CDs further to 15 per cent of the total deposits.
The bank has participated in the first phase of direct benefit transfer (DBT) in 43 pilot districts. It has also initiated steps to open bank accounts / seed Aadhaar numbers in 78 districts identified for II phase of DBT, Kamath added.
