NEWS & ADVICE : FIXED DEPOSITS
SBI aims at big expansion of branch network
By Neelima Shankar
Aug 8, 2011
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The country's largest lender State Bank of India is aiming to increase its branch count by a considerable number in this financial year. The bank plans to add another 800 more branches to its total count this year thereby taking the branch toll to 14000.

"We are planning to open 700-800 branches in the current financial year against 650 set up during the last fiscal," Mr Diwakar Gupta, MD and CFO of SBI said.

By the end of the last fiscal, the bank had a total branch count of 13542 while its ATM count stood at 20,084.

Regarding expansion offshore, Mr Gupta said that SBI aims to highlight its presence in neighbouring countries to India as well as the CIS (Commonwealth of Independent States) countries.

The bank presently has 156 offices across 32 nations like US, UK, Canada, Singapore and Mauritius.


 


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