Date:06/11/2009 URL: http://www.thehindubusinessline.com/2009/11/06/stories/2009110651510600.htm

Back Corpn Bank’s loan syndication cell

Mumbai, Nov. 5

Corporation Bank has opened its first loan syndication cell in Mumbai to shore up its fee-based income. The cell was inaugurated by Mr J.M. Garg, Chairman and MD of the bank. The bank is looking to augment its fee-based income by utilising its expertise in handling big ticket advances, Mr Garg said. “There are a lot of good deals in the pipeline. We are anticipating a pick up in demand for loans. So we have opened this cell ahead of the busy season,” said Mr B. Lakshminarayana, General Manager, Corporation Bank. Banks charge 0.25 per cent to 1 per cent on every deal depending on the credit worthiness of the corporate.

— Our Bureau