Thursday, September 13, 2012

SBI to add 1,200 branches this fiscal

Chennai/Mumbai, Sept 10: The State Bank of India plans to add 1,200 branches this fiscal, its Managing Director and Group Executive (National Banking), A. Krishna Kumar, said. The bank had added 645 branches in fiscal 2011-12. The last fiscal was a period of consolidation after the bank had added about 1,000 branches during the preceding three fiscal years.


SBI has a network of 14,127 branches (as at the end of the June 2012). Its dominance in the physical space is evident from some comparative numbers. Its nearest public sector competitor, Punjab National bank has 5,697 branches while its nearest private sector competitor ICICI Bank has around 2,755 branches.


Two-thirds of SBIĆ¢€™s network or 9,400 branches are in rural and semi-urban areas. The RBI mandates that at least one in four new branches should be in an un-banked rural area. The existing branch structure allows them considerable cushion to expand in urban and metro areas.


New branches of SBI...

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