Chairman and managing director of Vijaya Bank V Leeladhar inaugurated a three-day annual business plan conference of the bank here today, the release said.

The bank had also planned to increase deposits by Rs 2000 crore with emphasis on current and savings bank deposits. It would also augment advances by Rs 1000 crore, of which lendings under retail segments would increase by Rs 500 crore. Advances to housing sector would be increased Rs. 100 crore, to reach the total advances of Rs 5,500 crore.

TheVijayabank had also planned to bring down the share of net performing asets to net advances to five per cent by March 2000.

The total deposits of the bank had increased by 18 per cent from Rs 8,216 crorein 1997-98 to Rs 9,692 crore in 1998-99, the release said.

The advances also increased by 22 per cent during the just ended fiscal year to reach it to Rs 4,277 crore compared to Rs 3,504 crore during 1997-98.

As a result of consistent efforts, the release said, the share of net NPAs to net advances declined from 7.5 per cent in March 1998 to 6.5 per cent in March 1999.

The bank had planned to increase the number of fully computerised branches to 250 by March 2000 from the present 108, the release said. The bank raised Rs 120 crores during the year through subordinated bonds to ensure that there was no slipback in its capital adequacy ratio, which at present was 10.5 per cent, the release added.