Daijiworld News Network- Mangalore (AF)
                  
Mangalore, May 30: Vijaya Bank has set a target of achieving an aggregate business of Rs 60,000 crore by March 2007, said Bank chairman and managing director Prakash P Mallya while addressing a press conference here on Monday May 29.

The Bank is aiming at a growth of 35 per cent with the motto of 'profit through accelerated growth.' The Bank suffered a loss of 66 per cent in the last financial year, said Mallya while expressing confidence that the Bank will earn profit by March 2007. He said that the Bank plans to achieve a business aggregate of Rs 50,000 crore by October 23, 2006, when the Bank will celebrate its Platinum jubilee.

He further stated that the Bank has decided to increase the number of branches from 923 to 1000. Currently, it has 433 branches in the state while 265 branches are in rural areas. There are also plans to open overseas branches in the Middle East, China, Hong Kong and Malaysia.

To look into the NPA problems, the Bank will introduce V Adalats. The first V Adalat will be on the first or second week of June in Bangalore. The V Adalat will be conducted once in two months at the regional level, said Mallya.