State Bank of Hyderabad is aiming to spread its banking network by launching new 80 branches outside Andhra Pradesh. Recently while inaugurating a branch the bank manager reported that bank accounts for a total of 1,600 branches out which more than 1,000 are in A.P. He further stated that there is some trouble due to present political situation in the state, as a result bank have to close some of the branches for few days.
It is expected that bank will have 50 branches in Tamil Nadu by March end. It has been reported that due to increase in ATM attacks in recent times, bank closed some ATM at night. Bank may raise the transaction charges as well. The bank is planning to initiate 300 new ATM machines also by this march.
The data of the bank showed that there is an increase of 20% in deposits and 18% in advances. The bank is focusing on MSME and planning for an additional business of worth Rs 9,000 crore under this segment.