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To drive its growth, Syndicate Bank plans to add 300 branches this year.
According to Mr M.G. Sanghvi, Chairman and Managing Director, Syndicate Bank, the bank is geared up for further growth and plans to add 300 branches this year. Last year, the bank opened 200 branches.
Currently, Syndicate Bank has over 2,700 branches, including 14 ultra-small branches. It also plans to add 500 ATMs this year, and according to a bank official, an order for 500 more vending machines has been placed. The bank currently has 1,240 ATMs across the country.
Syndicate Bank, which has 129 branches in Bangalore alone, plans to open an back-end services office for the city. This office would help the bank in new account opening. Explaining the process, Mr Anjaneya Prasad, Executive Director, Syndicate Bank, said that after collecting the KYC details from the customers, branch officials have to upload the information to the back office, which will process the account-opening application.
On a pilot basis, 50 branches in Bangalore would be covered, and “we would extend this facility to all the Bangalore branches first and then across the country,” he said.
Mr Sanghvi said that the bank would recruit 1,750 officers, including specialists, this year. Besides, 1,000 clerks would be added this year. The bank has over 28,500 employees.
Its global business stood at Rs 2.83 lakh crore as on March 31, 2012.
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