Wednesday, April 26, 2017

SBI forms Telangana Circle Comprising 1,300 branches in the State

HYDERABAD, April 26: The State Bank of India (SBI) has formed Telangana Circle, comprising 1,300 branches and 2,500 automated teller machines across the 31 districts of the State. The new Circle, which came into existence on Monday, is consequent to the merger of State Bank of Hyderabad and four other associate banks as well as the Bharatiya Mahila Bank with SBI on April 1.

Among them, SBH had the largest network in the State with about 750 branches.  Besides those of erstwhile SBH, the new Circle would have around 400 branches of SBI while the rest belonged to other merged entities. On Tuesday, SBI Chief General Manager Hardayal Prasad inaugurated the new Circle and addressed the staff members at the Local Head Office here on Tuesday.

Hitherto SBI had 14 circles in the country and following the mergers, two more administrative and business units have been formed in Andhra Pradesh and Rajasthan, a press release said. Sources said a separate Circle for Andhra Pradesh, to be called Amaravati Circle, would be formed on getting the statutory approvals.

Addressing the gathering, Mr. Prasad said post the mergers SBI has emerged as the 45th largest bank globally with 22,500 branches, 58,000 ATMs and over 2.77 lakh employees. He stressed on customer satisfaction and effective implementation of digital products, the SBI release said.

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