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The State Bank of Bikaner and Jaipur (SBBJ) expects a 14-15 growth in business in the current fiscal as it seeks to expand its branch network by about a tenth.
“We are expecting a 14 to 15 per cent growth in both deposits and advances this year,” said B Sriram, Managing Director, SBBJ.
The bank transacted a total business of ₹1,39,208 crore in the year-ended March 31, 2014. Deposits stood at ₹73,875 crore, while advances were ₹65,333 crore. SBBJ clocked a net profit of ₹731.69 crore for fiscal 2013-14, while its NPAs were estimated at 4.18 per cent. SBBJ, the banker to the Rajasthan Government, plans to add about 115 branches this year to its existing network of 1,148 branches, of which, about 10 would be set up in South India.
At present, 82 per cent of SBBJ’s branches are located in Rajasthan, while the rest are spread across India. The bank is aggressively expanding its branch network both within and outside Rajasthan.
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