CORPORATION BANK TO RECRUIT 1,400 STAFF IN FY'10

"We are planning to hire 1,400 employees, including officers, during the current fiscal," Corporation Bank Chairman and Managing Director J M Garg told PTI.

The total business of the bank has crossed Rs 1 lakh crore during the first quarter of the current fiscal. The business mix of the bank stood at Rs 1,19,505 crore as on June 30, 2009.

As far as branch expansion is concerned, the bank plans to add about 100 branches in the financial year, he said, adding, in the first quarter about 25 new branches have been opened.

With the addition of 100 branches, the total number of branches would cross 1,150 by the end of March 2010, he said.

The bank has already opened 25 branches during the April-June quarter.

In order to meet capital requirement for the business growth, the bank would raise Rs 650 crore through the issue of bonds in the markets during this quarter.

"We have raised Rs 1,300 crore from Tier I and Tier II bonds so far and will raise another Rs 700 crore in the July-September quarter," he said.

( Source - ET )