Kolkata, July 26: The Corporation Bank will provide "at par" facility at its main centres in the country in the current financial year, its chairman K Cherian Varghese said today. The software needed for this purpose was being tested and the facility will be launched once this was complete, Varghese told reporters after the bank's board meeting to adopt the first quarter financial results.

During the quarter ended June 30, 2003, the bank's net profit increased 29 per cent at Rs 126.43 crore while gross profit inched up by 9.6 per cent at Rs 202.70 crore.
On retail credit, the chairman said that in the last year, the bank advanced Rs 2600 crore. In the current year, the bank will increase this amount to Rs 3750 crore which will be disbursed under the various heads of home loans, professional loans, personal loans and automobile loans.
The bank also plans to strengthen the credit cards business, Varghese said. Bureau Report