Business Daily from THE HINDU group of publications
Wednesday, Dec 12, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Dec 12, 2007 ePaper | Mobile/PDA Version |
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Money & Banking
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Private Banks South Indian Bank in expansion mode Our Bureau Coimbatore, Dec 11 Thrissur-headquartered South Indian Bank is not only striving to establish a pan-India presence but also set to surpass its business targets for the current fiscal. Dr V.A. Joseph, CEO and Chairman, SIB, was in the city in connection with the shifting of its NGGO colony branch to a more spacious building. Sharing the bank’s future plans, he said the bank would further strengthen its branch network in Tamil Nadu by opening a branch in Dharmapuri next month and three at Chennai before March 2008. Ninety nine branches out of the total network of 485 are currently operational in Tamil Nadu. The bank had proposed to widen its reach to 500 branches by March 2008. “We will be crossing this. We have 28 new licences. While 15 of these would become operational by end March, we plan to open 13 during the first quarter of the next fiscal,” he said. SIB is also planning to open more exchange houses, he said adding one more would come up at Dubai and the other at Abu Dhabi. On performance, he said the bank has already achieved its deposit target of Rs 13,850 crore (for December). “This is against the target of Rs 14,700 crore for the current fiscal. Our advances have crossed Rs 10,000 crore against the year’s target of Rs 10,300 crore.” More Stories on : Private Banks
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