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Vijaya Bank sees 40% growth in retail advances

Vijaya Bank expects 40% growth in retail advances, including housing and auto loans, in the current fiscal. MD & CEO Kishore Sansi said the bank has shown phenomenal growth in the retail sector, especially in housing and vehicle segments, and growth is expected between 35% and 40% during the current financial year. The bank has witnessed steep increase in the net interest margin of 0.3% during the last 2 quarters and with the further reduction in the cost of deposit, this trend is likely to continue during remaining two quarters also, he said. Sansi added the bank is focusing on the recovery of non-performing assets and it should yield results in the coming quarters.

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