State Bank of Hyderabad, the Largest among the Associate Banks with over 1700 Branches has decided to improve its presence outside the core area of erstwhile Andhra Pradesh (now AP & Telangana) to other areas of South. At present, Bank has 63% of its branches in AP and Telanagana and 16% in Maharashtra.
Bank’s total business stood at Rs.220730 crores as at the end of June 2014 constituting of total deposits of Rs.122068 crores and total advances of Rs.98662 crores. The credit deposit ratio is at 81.84% as on June 2014.
Although the Bank has more than 180 branches in Karnataka, major portion is in North Karnataka (erstwhile Nizam Area). Bank plans to open more branches in Bengaluru City and Suburbs and also in Bellary Areas.
“In Karnataka, our Bank is at present having a total business of Rs.8841 Crores of Deposit and Rs. 7708 crores of advances. In order to help in the Bank’s expansion in Bengaluru and to have effective customer service, today (August 1, 2014) bank is inaugurating its second zonal office in Karnataka at Bengaluru. This zonal office will cover the branches in Bengaluru city and nearby districts Hassan, Mysore, Mangalore, Shimoga, Bellary, Belgaum, Koppal, Hubli, Davanagere, etc. Bank is planning to open 12 more branches in Bengaluru city and suburbs in the next 6-8 months time” said Sri. Santhanu Mukherjee, Managing Director.
Eighty one branches in this zone is contributing with deposits of Rs. 3853 Crores and advances of Rs. 2914 crores – in total Rs. 6767 Crores of business.
FOR : IBC WORLD NEWS
