Personal loan lender Vijaya Bank to focus more on north India

Personal loan lender, Vijaya Bank has decided to concentrate on expanding its access in the northern part of the country. A senior official of the bank said, 74% of its new branches will be situated in the northern part of India.

Vijaya Bank’s Chairman and MD, Albert Tauro said, “We are opening up to 90 branches in the current fiscal and 75 per cent of them would be in north India”.

Already the bank has started 15 new branches in the country during this fiscal raising its present branch network to 1,170, he said.

Tauro also stated that the base rate of 8.25% which is more than its peers has led to the bank losing business to its competitors in the short term lending segment.

But he said that it will not impact the bank’s profitability.