Vijaya Bank Approves Sanction Of Up To Rs 500 Crore For MSME (07-Feb-2012)
Vijaya Bank, a Bangalore-based mid-sized public sector bank has considered in-principle sanction of up to Rs 500 crore for the MSME (Micro, Small & Medium Enterprises) sector during 21 mela's across the country. The bank is organizing a two-day mela at Patancheru Industrial area with a view to give thrust to the MSME sector.
The bank is giving more than 28% to MSMEs through special cells of the bank across the country as this sector is very important and growing in the country, which requires support from the banks.
The bank's net profit for the quarter ended June 30, 2011 has declined by 58.37% at Rs 72.22 crore as compared to Rs 173.48 crore for the same quarter last year. Its total income increased by 21.92% to Rs 1853.40 crore for the quarter under review from Rs 1520.21 crore for the corresponding quarter of the previous year.
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