SBI plans to expand its branch network in Andhra Pradesh this fiscal
By Vaibhav Aggarwal
Apr 8, 2013
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Country's largest lender, State Bank of India is planning to add 80-100 more to its branch network in Andhra Pradesh by the end of this financial to its existing 1326 branches in the stat, said Mr. Rakesh Sharma, Chief General Manager of State Bank of India in an inauguration function of one of the bank branches in the industrial areas.

During the financial year 2012-13, Mr. Rakesh said, SBI had opened 97 more branches in Andhra Pradesh, with most of them being in the rural and semi-urban areas, and therefore, "we have to maintain the balance this year to face competition from private banks which are mostly confined to urban areas."

The bank had collected deposits of Rs 59,800 crore in Andhra Pradesh and advanced Rs 61,500 crore. It had also met the targets set by the AP Government in extending loans to women self-help groups and also in issuing Kisan credit cards.


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