Business Plan Conference by #VijayaBank in #Bangalore

Bangalore-based public sector bank Vijaya Bank held a Business Plan Conference of in Bangalore today. The theme of the Conference was 'Year of Re-orienting and Business of Profitability.' CMD Vijaya Bank V.Kanan, ED K.R.Shenoy and B.S.Rama Rao were present on the occasion.  Regional Heads and many GMs of Vijaya Bank also attended the conference. Vijaya Bank is more likely to focus on improving its efficiency rather than size in the current economic scenario.Vijaya Ban CMD V Kannan analyzed the performance of the Bank and also outlined the broad contours of the corporate goals to be achieved for the current financial year besides listing out the strategies to achieve the same.he touched upon various issues & made observations like,

1.      2013-14 was a milestone year  for the Bank where the total business has crossed Rs.2 lakh crore and also total deposits crossed Rs.1 lakh crore.  Bank has also taken the branch network to 1500 with equal number of ATMs.
2.      Added nearly 40000 crores to the business last year.
3.      The Bank needs to grow more than the industry growth rate to improve its market share
4.      Bank did well in MSME and retail advances.
5.      Achievement should not be a flash in the pan, we should make it a habit;
6.      The current year is declared as “Year of  reorienting business for profitability”.
7.      We need to intensively build image for the bank.
8.      The targeted business level for the year will be deposits – Rs. 1.45 lakh; advances – Rs. 1.00 lakh crore; total business Rs.2.45 lakh crore (with 19% growth) NIM 2.5%;  increase number of branches to 1700; ATMs for all branches; CASA at Rs.30000 crs
9.      Aim to Lower the cost of deposits and improve the yield on deposits
10.  200 new branches need to be opened in the first 9 months.

Both Executive Directors of the Bank, K R Shenoy and B S Rama Rao also addressed the participants and reviewed the performance of Regions.  During the conference many performers & target achievers were honoured.  There was also a brainstorming session for the participants on some of the important issues concerning the functioning of the Bank & the participants discussed threadbare on the same and came out with clear strategies.