India's largest lender, State Bank of India inaugurated its second Kohinoor banking centre at Visakhapatnam on Wednesday. The branch was inaugurated by Chief General Manager, Mr. Rakesh Sharma at Ocean View Layout on the beach road, Vishakhapatnam.
The first branch, Kohinoor Banjara was opened in Hyderabad a year and a half ago. The branch has so far mobilized Rs 500 crore in deposits in just 18 months. Kohinoor premium branch caters to very high networth individuals, who have opening balance of Rs 50 lakh to Rs 1 crore. Mr. Rakesh said, "We expect the branch here to mobilize Rs 100 crore by the end of the financial year".
Mr. Rakesh further added, "The SBI corporate office is also planning to start such special branches in all the metros in the coming days and we will set up our third such branch in Vijayawada in six to 12 months".
The USP of the Kohinoor branches is that it provides specialized services to high networth individuals keeping in mind their special needs. Relationship Manger would be provided to every customer and customized banking service would be provided to all the account-holders. The account holder will also be 24 hours access to locker facility (with prior appointment).
Along with this, Cheque/draft pickup and delivery facilities and every account holder would be provided with personal banker support.
SBI is aiming to add 107 more branches in Andhra Pradesh by the end of this fiscal. At present there are around 1302 branches in the state.