Syndicate Bank opens 108 new branches on a single day

State-run lender Syndicate Bank today opened 108 branches across 15 states and Union Territory of Andaman and Nicobar Islands.

Minister of State for Finance Namo Narayan Meena and Minister of State for Railways K H Muniyappa were present on the occasion.

With this, the total number of branches of Syndicate Bank have crossed 2,700 and the all women branch at Padmanabha Nagar in Bangalore shall be the 2,700th branch of the Bank, it said in a release here.

To facilitate 24X7 banking, particularly for the younger generation, working class, HSR Layout branch here has been rebranded 'SyndYuva-NextGen Branch'. Synd Yuva provides self banking facilities, like internet banking, mobile banking, cheque deposit kiosks, coin dispensing facilities.

As on date total business crossed Rs 2,77,000 crore, comprising Rs 1,53,405 crore deposits and Rs 1,23,595 advances.

Meena also inaugurated Ultra Small Branch for providing financial services to villages. With this, bank will cover 1,500 villages under financial inclusion exceeding the target given by central government.

He lauded the bank for opening 108 branches on a single day and said it is on a progressive path. He also complemented the bank for its active participation in financial inclusion and rural development.

The bank Chairman and Managing Director M G Sanghvi reiterated the bank's commitment to actively participate in all government economic developmental programmes and to enhance reach of bank's services in the command area of the branches in particular services to the poorer sections.

Executive Director Anjaneya Prasad said the bank plans to open another 150 to 200 branches across the country this year to reach 2,900 mark.