Turnover of Rs 50,560 cr achieved by SIB
By Joseph Samson
Apr 8, 2011
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Private sector lender, South Indian Bank has achieved a total business of Rs 50,560 crore in 2010-11.

The bank have superceded its target of Rs 48000 crore in business which it had made for itself for this fiscal.

The total branch count of the bank has increased to 641 in the last FY. This year it aims to add 59 more branches to its count.

"Overall, fiscal 2010-11 was a successful year for the bank. Our deposits had grown by 29.08 per cent and advances by 28.92 per cent," said Mr V A Joseph, MD and CEO, South Indian Bank.

For this fiscal, the bank has set an objective of achieving total business of Rs 75000 crore and take its branch as well as ATM count to 750 each.

It also aims to increase its employee strength to 7500 in the two years to come.


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