State Bank of India's subsidiary, State Bank of Hyderabad crossed Rs 10000 crore business during the financial year 2012-2013 in Visakhapatnam zone. The bank is also planning to expand its branch network in the coastal districts and add around 50 more branches and 15 ultra branches during the current financial year.
"At present, we have 200 branches and 30 ultra small branches in the zone, with 24.5 lakh customers. We are planning to open a specialized personal banking branch in the city and also a branch for gold loans exclusively," said Mr. K. Ramesh Babu, Deputy General Manager of the zone.
Mr. Ramesh said the bank had financed over 10,000 small, micro and medium units in the Vizag zone with an outlay of Rs 750 crore and the current fiscal had been declared MSME year and therefore these units would get more finance.
The bank is hoping growth of over 20 per cent during the current financial year in the Vizag zone.