Press Trust of India / Mumbai Sep 07, 2010, 21:39 IST
South-based public sector lender Vijaya Bank will concentrate on expanding its footprint in North India and over 75 per cent of its new branches will be in that geography, a top bank official said today.
"We are opening up to 90 branches in the current fiscal and 75 per cent of them would be in North India," the bank's Chairman and Managing Director, Albert Tauro, told reporters on the sidelines of a banking conference here.
Fifteen new branches have already been inaugurated this fiscal and the bank's total branch strength now stands at 1,170, he said.
Because of a base rate of 8.25 per cent, which is higher than its peers, the government lender is losing business in the short-term lending space, Tauro stated.
However, this would not impact the bank's profitability, he added.
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