ING Vysya to focus on retail banking

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SME Times News Bureau | 09 Apr, 2010
Private lender ING Vysya Bank will focus on retail and emerging corporates this fiscal to increase its balance sheet and expand the branch network in the northern and western region.

"We are looking at all the four major business segments - big and emerging corporates, small and medium enterprises (SME) and retail - for growth," Peter Staal, head of Banking-Asia, Americas and UK, told reporters in Chennai on Thursday.

Speaking to reporters on the sidelines of a seminar on `Doing Business with the Netherlands' organised by the Confederation of Indian Industry (CII), he said: "ING Vysya Bank has got licence to open 60 branches in India. We are strong in South India and would like to expand in West and North."

On growing the bank's balance sheet size, he said the focus will be on increasing the retail deposits for the liabilities side.

He said the bank will grow the asset side by financing commercial vehicles and the emerging corporates which have a turnover of Rs.150 crore-Rs.1,000 crore.

Currently emerging corporates constitute around 20 percent of the bank's business.