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The Chennai-based Repco Bank is planning to expand its network of branches.
In an informal chat with Business Line on the sidelines of the shifting of bank’s branch in Mangalore on Saturday, K. Rajendran, Executive Director of the bank, said that Repco Bank has 85 branches now.
The Union Finance Minister P. Chidambaram opened the 17 branches of the bank recently. “We may open three or four more branches before March,” he said.
Asked about the plans for 2013-14, Rajendran said: “We are aiming to cross 100 branches by next fiscal.”
Loan portfolio
To a query on the NPA situation of the bank, he said the net NPA of the bank is almost zero.
The bank has a scattered loan portfolio, and all of them are secured advances.
The maximum loan given is around Rs 15 crore per borrower, he said.
Full-fledged bank
The bank has approached the Government to convert it into a full-fledged bank, Rajendran added.
The Chennai-headquartered Repatriates Cooperative Finance and Development Bank Ltd (REPCO Bank) was registered as a cooperative society in 1969 with jurisdiction over Tamil Nadu, Andhra Pradesh, Karnataka, Kerala and the union territory of Puducherry.
It was established with the purpose of promoting the rehabilitation activities for repatriates from neighbouring countries such as Sri Lanka and Myanmar (then Burma).
The bank is under the administrative control the Union Ministry of Home Affairs. Through a notification in 1972, RBI permitted it to use the word ‘Bank’.
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