SBI opens exclusive branch in Hyderabad for ultra HNIs

State Bank of India on Thursday opened an exclusive branch -- the first-of-its-kind in the country-- for the ultra high networth individuals (HNIs) here.

"Accounts will be opened through invitations by the bank. We are targeting around 250 upper elite customers by March 2011 for this branch," said Shiv Kumar, chief general manager, (Hyderabad circle) SBI.

The bank expects a turnover of Rs 100 crore from the branch, named as Kohinoor Banjara Premium Banking Centre, in the coming six months. It is planning to set up such branches across the country and in other places in the state.

"As the economy has come out from the recession, we have upgraded our banking service to meet the current demand. The centre, with state-of-the-art technology-enabled facility, will provide the customers a feel-good ambience in terms of space and personalised services," said Diwakar Gupta, deputy managing director and group executive - Rural Business, SBI, while inaugurating the branch.

SBI has invested Rs 80 lakh in the centre. "The branch is the first-of-its-kind in India where banking service would be available throughout the year with an extended timing of up to 8 pm. It will have a business centre and a conference room," said K Venugopal, general manager (Network-1), SBI.

The locker facility, (500) would be available 24/7 with prior appointment. Among others, it would also provide cheque/draft pick up, deliver services, video conferencing, financial planning, forex services, SBI e-Tax, e-invest and online trading facilities.