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SBI To Open 50 More Branches In AP By September

State Bank of India, which has a strong customer base in Andhra Pradesh, plans to open 50 more branches in the state by September 2016. The top nationalised bank, which is contemplating to bifurcate its Hyderabad circle into two, each for AP and Telangana, has sought land from the state government in the new Capital Amaravati for setting up its administrative office and new branches.

Speaking to Media, Hardayal Prasad, SBI chief general manager for Andhra Pradesh and Telangana said though the state was bifurcated two years ago, their bank's Hyderabad circle was not divided. “We are contemplating to have two separate circles for each state by dividing the existing circle," he explained.

The bank has 1,022 branches in Andhra Pradesh, of which 60 percent are in rural areas. Plans are afoot to increase the customer base, both in rural as well as urban areas. Targeting the youth, the bank is focusing on new age banking branches like the one opened in Vijayawada, on Thursday. “The new age banking branches of our bank, named SBI Intouch branches are one-stop centres offering the next generation banking solutions for the banking needs of the tech-savvy, mobile carrying, globe-trotting young customers of today.

These branches will have paperless transaction and online services. It will take just 12 minutes to open a new account in these digital banking branches," he explained. He went on to add that 11 more SBI Intouch branches would be set up in the state by the end of September.

Prasad said that they were coming up with new software for machines in eCorner branches, so there won't be any more malfunctioning. SBI will divert two per cent of its profits to social service activities and has adopted a village near Kanchikacherla in Krishna district to provide basic infrastructure, education and health services to the people.

More in Store:- 50 more SBI branches in state by September, 1,022 branches in Andhra Pradesh, 60% are in rural areas, 12 minutes to open new account in SBI Intouch

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