Syndicate Bank plans more branches in AP coastal region
By Our Banking Bureau | 22 Jan 2004
Visakapatnam: Syndicate Bank proposes to open 15 more branches in coastal Andhra Pradesh during 2004 as a part of an overall effort to increase the branch network all over the country, according to Mr K.M Shet, the Executive Director.
At a press meet here on Wednesday evening, Mr Shet said that the bank had identified Vijayawada-Visakhapatnam as one of the potential growth areas and had applied for licences to set up 15 more branches.
"We are hopeful of completing the process by the end of the year and by March, 2005, we are planning to set up 150 more branches all over the country including the 15 in coastal AP," he said.
He said the retail portfolio of the bank had gone up by 5,000 crore and the bank was concentrating on customer services. He said the bank had at present 118 ATMs and the number would go up by 125 more by the end of the current financial year.
Presently, the bank had 81 inter-connected branches and the number would rise to 225 by the end of March.