SBH to expand network

Telangana contributes Rs 90,000 cr and Seemandhra Rs 25,000 cr to the annual business of State Bank of Hyderabad

State Bank of Hyderabad (SBH) would have a corporate finance branch in Vijayawada, a general manager's office in Warangal and a zonal office in Khammam by June 2, the day the states of Telangana and residual Andhra Pradesh (Seemandhra) would be notified.

This is part of the bank's plan to expand its network to cater to the needs of both the states post bifurcation of AP, SBH managing director, M Bhagavanatha Rao, told mediapersons.

SBH could as well be the lead banker of the state level bankers committee in Telangana where 710 of its 1,065 branches are located. It is already a lead banker in seven districts in the region.
 
At present, Rao said, Telangana contributes Rs 90,000 crore and Seemandhra Rs 25,000 crore to the annual business of the bank. SBH's total business crossed Rs 2,20,000 crore by March 2014.