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The State Bank of Hyderabad, which crossed Rs 10,000-crore business during 2012-13 in Visakhapatnam zone, is planning to expand its branch network in the coastal districts and add roughly 50 more branches and 15 ultra small branches during the current financial year.
Reviewing the performance of the zone at a press meet here on Saturday, K. Ramesh Babu, deputy General Manager, said the zone comprised Srikakulam, Vizianagaram, Visakhapatnam, the two Godavari districts, and Krishna.
“At present, we have 200 branches and 30 ultra small branches in the zone, with 24.5 lakh customers. We are planning to open a specialised personal banking branch in the city and also a branch for gold loans exclusively,” he said.
He said the bank had financed over 10,000 small, micro and medium units in the zone with an outlay of Rs 750 crore and the current financial year had been declared MSME year and therefore these units would get more finance.
The deposits in the zone amounted to Rs 6,041 crore and the advances Rs 4,352 crore.
He said the bank was projecting growth of over 20 per cent during the current fiscal in the zone.
The bank had spent more than Rs 1 crore on corporate social responsibility activities in the zone and it had adopted a school in the city, he added. The bank was also offering education loans to students of professional colleges, he said.
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