Government-owned Corporation bank has introduced the loan Syndication process and is planning to foray into non-life insurance in the coming six months.

Syndicated loans are on a record high. For the first time, Indian syndicated loans were highest in Asia-Pacific and accounted for 23 percent of the region's volume.

J M Garg, Chairman and Managing Director, Corporation bank said, "We have launched the loan syndication business and have also taken up a proposal for Rs 500 crore loan." The chairman said that the bank expects to meet its fee income from this segment.

The bank is also contemplating setting up a separate subsidiary by forming a joint venture partnership and has appointed a consultancy to look for an appropriate partner.

Garg said that the bank was planning to set up a subsidiary, had appointed a consultancy for it and the entire process would take six months.

He also pointed out that the bank would concentrate more on increasing its non interest income and CASA (current account saving account) growth. He added that the bank was hopeful that its CASA would grow to 30 percent this financial year.