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Our Bureau

Kochi May 7 Hadi Express Exchange, which is being provided management support by South Indian Bank, has opened its second branch in Sharjah.

Mr Yusuff Ali, Director of the Abu Dhabi Chamber of Commerce, inaugurated the branch.

Dr V.A. Joseph, Chairman of the bank, said in his presidential address that South Indian Bank had decided to provide management support to Hadi Express Exchange, as it would enable it to provide quality service to NRIs looking at remittances to India in a technology-driven environment.

The first branch of Hadi Express Exchange was opened in Dubai last year.

With the opening of the second branch in Sharjah, more NRIs working in UAE would be able to transfer their funds through the branches of the bank instantaneously, which would be available for disbursement with within 30 minutes.

Dr Joseph recollected that it was for providing `anywhere banking' facilities to NRIs that the bank had started the ambitious technological upgradation project `SIBertech' in partnership with Infosys Technologies Ltd, Wipro and HCL.

"The project is now complete and hence hundred per cent of the bank's business is now online. The bank has established the largest network of Core Banking branches in the private sector next only to ICICI Bank, HDFC Bank and UTI Bank."

He also stated that the bank has set a corporate business target of Rs 25,000 crore in the current financial year. The bank planned to open 25 new branches and take the total number of branches to 500 spread in 23 States and Union Territories.

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Hadi Express opens second branch in Sharjah

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