Thursday, December 27, 2012

South Indian Bank business set to touch Rs 75,000 cr

South Indian Bank is all set to achieve a business target of Rs 75,000 crore by March 2013 as envisaged in the Vision Document 2008.

SIB's five-year business plan — Vision 2013 — was drawn up in 2008 to achieve Rs 75,000 crore business, 750 branches, 750 ATMs and 7,500 employees.

V. A. Joseph, Managing Director and CEO, toldBusiness Line that the bank has been able to clock Rs 67,000 crore in total business as on date.

Its employee strength is at 6,800, the number of branches 740 and ATMs 775.

“We hope to achieve the target of Rs 75,000 crore and 7,000 people by the end of March 31. We might just exceed some of the targets,” he said.

Ten more branches are to be opened shortly in Gujarat, West Bengal and Maharashtra, he said. The bank hopes to open another 25 ATMs by March 2013 taking the total to 800.

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