SBI to open 10 branches in Vizag

State Bank of India, Visakhapatnam module, will open 10 more branches in the city during this fiscal. The Vizag zone controls 197 branches in four coastal districts from Srikakulam to East Godavari.

"During the last fiscal, we opened only two new branches in entire module, but this year the bank is planning to start 10 new branches in the Vizag city itself and a few more branches in the module," Supriyo Kumar Chaudhuri, deputy general manager, SBI, Vizag module, told mediapersons here on Wednesday.

Of the total 197 branches, SBI provides the core banking facility in 81 branches. By the end of this fiscal, it is planning to extend this facility to all its branches. This apart, it would set up 12 new ATMs in a couple of months in this module, which currently has 123 ATMs.

Chaudhuri said the bank was targeting to touch the Rs 12,000-crore mark in business by the end of this fiscal. As of March 2007, total business stood at Rs 10,000 crore.

"We hope to touch the target of Rs 12,000 crore as this year, we are aiming to mobilise Rs 1,000 crore deposits and sanction advances of Rs 1,000 crore," he said.