The bank's board had formulated the strategy at its meeting recently, Bank chairman B Sambamurthy said. The bank would be expanding its branch network from the present 865 to 1,125 and its ATMs would also go up from the present 902 to 1,250, he said.
The bank had already received license from the Reserve Bank of India to open 75 more branches, he said. The Bank would shortly sign agreements with two money exchange companies, one in Qatar and another in Oman, for money exchange programmes.
It would enable the Indian workers in these countries to deposit money in these exchange companies, which would be transferred to the Corporation Bank's branches, from where their relatives could withdraw, he said, adding that there was a lot of scope for increasing business for the banks in these countries as they had a large number of Indian workers.
The bank had decided to institute five annual awards for small and medium enterprises for excellence from this year; one each for food and agro based processing, textiles and apparels, auto components, drugs and pharmaceuticals and the other for the rest.