BANGALORE: In a bid to boost its existing credit card business, Vijaya Bank, an early bird in India's credit card space, is planning a separate joint venture. Vijaya Bank, is aggressively looking for a strategic partner for this venture.

Founded on 23rd October 1931 by late Shri A.B.Shetty and other enterprising farmers in Mangalore, Karnataka, Vijaya Bank became a scheduled bank in 1958. Vijaya Bank has the highest number of branches in its home state Karnataka.

Mr. Prakash P Mallyad, CMD Vijaya Bank said that the bank was positioning itself to become a more aggressive player in the credit card business and expand its customer base.

The bank has been experiencing good expansion in recent times. During the financial year 2006-2007 the bank has opened 43 Branches, upgraded 10 extension counters, converted 2 Regional Foreign Exchange cells into full fledged Overseas Branches.

Earlier also Vijaya Bank had tried to tie up with one of the leading private sector banks in India for the expansion of its credit card business but, things didn't materialize.

Vijaya Bank has issued around 1.5 Lakh credit cards, only 65,000 of which are active and a majority of them are issued under the Visa Franchise. The turnover of Vijaya Bank's credit card business estimated at Rs. 350 crores.

With the current boom in Indian economy, the credit card industry is witnessing tremendous growth and Vijaya Bank doesn't want to be left behind in claiming its share.