Chennai, May 15 (KNN) The Central Bank of India has reduced focus on big corporates, and has gradually shifted its focus on the retail, agriculture and MSME segments. The initiative is to control cost, ensure credit quality through constant monitoring and to improve customer relationship.

The bank has an aim to provide easy, speedy and transparent access to banking services in their operations and in times of financial difficulty.

Executive Director BK Divakara on Thursday said over the last three years, the bank has reduced focus on big corporates, and has gradually shifted its focus on the retail, agriculture and MSME segments.

He informed that 63 cent of the bank loan book was made up of big corporates, which has now reduced to 48 per cent. With growth in other focus areas such as retail and MSME, this will come down further in the coming years.

He said the development will help the bank in reducing non-performing assets (NPAs).

In 2014-15, Central Bank brought down its gross NPA to 6.09 per cent from 6.27 per cent.

Total business of the bank increased to Rs 4,50,539 crore from Rs 4,23,390 crore in the previous year.

During the current financial year, the bank plans to raise Rs 2,800 crore through a Follow-on Public Offer (FPO) or Qualified Institutional Placement (QIP). (KNN Bureau)