The Hindu Business Line : SBI to add 12 branches in Vizag

The State Bank of India is planning to add 12 branches during the current financial year in the Visakhapatnam module, according to Mr S.K. Chaudhuri, General Manager. Mr Chaudhuri said in an interview that currently there were 207 branches and 113 ATMs in the module consisting of the four coastal districts - Srikakulam, Vizianagaram, Visakhapatnam and East Godavari. He said the module stood first in the State and sixth in the country in deposit collection. The deposits amounted to Rs 6,600 crore and the advances Rs 5,700 crore. He said two lakh new savings bank accounts were opened in the current financial year. The priority sector lending amounted to 56 per cent, against the stipulated norm of 40 per cent, and the agricultural advances amounted to 22 per cent against the stipulated 18 per cent. He said the bank enjoyed a market share of 18.38 per cent in these four districts. In financing the self-help groups, he said, the module stood first in the State, with the formation of 18,000 new groups this year till December and giving loans of Rs 212 crore to the groups. - Our Bureau

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