The private sector lender, South Indian Bank has managed to achieve the set business target of Rs 75000 crore as envisaged in Vision Document 2013.
Mr. V A Joseph, Managing Director and CEO of South Indian Bank said that the achievement is the culmination of the vision which was set in 2008. The total business of the bank in 2008 was Rs 25000 crore.
A goal was set to achieve a total business of Rs 75,000 crore, network of 750 branches, 750 ATMs and 7,500 employees by 2013.
"What makes this achievement special is the fact that SIB could achieve a total business of Rs 75,000 crore, 750 branches and 800 ATMs with just 6,400 employees. This achievement is testimony to the increased productivity of each SIB employee," Mr. Joseph added.
The average age of employees has been reduced to 35, compared to 49 in 2008. The private sector bank has also increased its national presence with new branches in Assam, Tripura, Meghalaya, Nagaland, Himachal Pradesh and Jammu and Kashmir.
By 2014, the bank sets a target to achieve a total business of Rs 1 lakh crore with 800 branches and 1,000 ATMs, Mr. Joseph added.