SMEs to add to Vijaya bank’s growth

With Vijaya bank looking forward to 22% growth targetting SMEs, a part of the priority sector will clock 18.87 per cent growth to reach Rs 4,895 crore.

Vijaya Bank is looking to a business growth of 22 per cent, to Rs 1,10,000 crore. This will comprise of Rs 64,000 crore under deposits and Rs 46,000 crore under advances for year-ending March 2010 compared to the last financial year.

The bank has reported a 7.3 per cent growth in its total business at Rs 95,878 crore for the period-ended September 30, 2009 compared to the same period last year. The deposits have grown by 10.4 per cent to Rs 58,115 core and the advances were marginally up by 2.8 per cent to Rs 37,763 crore.

Priority sector advances of the bank aggregated to Rs 13,344 crore. Other advances within the priority sector will be agricultural loans were of the order of Rs 4,305 crore.