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Our Bureau

Thiruvananthapuram, Jan. 19

Thrissur-based South Indian Bank has applied for licence to open 25 branches and 61 ATMs during fiscal 2007-08, according to Dr V.A. Joseph, Chairman and CEO. These will be spread out across the States of Kerala, Karnataka, Tamil Nadu, Maharashtra and Delhi. The bank has opened 25 branches and 30 ATMs till now during the current year, while closing down one branch.

The technology up-gradation project named `Sibertech' based on the `Finacle' core-banking platform from Infosys is almost complete. All key branches have been linked to the centralised data centre at Kochi, and anywhere banking is being extended at these branches. As on date, the bank has a network of 664 banking outlets, which includes 462 branches, 40 extension counters and 162 ATM centres. The bank will have 475 branches as on March 31, 2007, and all of them will have been brought under core banking before that date.

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