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State Bank of India Celebrates Hyderabad Circle's Golden Jubilee

The Hyderabad Circle was part of the then Madras Circle and was later carved out as Hyderabad Circle to cater to the customers.

Published: 02nd February 2015 06:18 AM  |   Last Updated: 02nd February 2015 08:14 AM   |  A+A-

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HYDERABAD:It was indeed a nostalgia-filled morning as the Local Head Office of State Bank of India organised its golden jubilee celebrations at Koti here on Sunday.

The Hyderabad Circle was part of the then Madras Circle and was later carved out as Hyderabad Circle to cater to the customers in Hyderabad and erstwhile state of Andhra Pradesh.

Chief general manager of the circle CR Sasi Kumar said that though the circle was 50 years old, it functions on the ethics and values enunciated by its successors who put in a lot of efforts to make it what it is today.

“In 1965, the Hyderabad office was the 7th circle of the bank. It had 61 branches and 41 sub-offices then. Today, we have evolved into 1,411 branches and 400-odd sub-offices now,” he said.

“At the time of the circle’s inception, we had about Rs 22-crore deposits and Rs 8-crore advances. Today, our deposits stand at Rs 71,000 crore and our advances Rs 67 crore,” he said, adding, “as an individual branch, we have penetrated into villages and have achieved more than 99 pc of our target accounts.”

Five former chief general managers _ Vepa Kamesam, Renu Challu, M Mandal, K Sitaramam and V Subbarao who retired as managing directors and deputy managing directors of State Bank of India _ were honoured on the occasion. Also, 108 staff members who  worked at the local head office at the time of its inception in 1965 were felicitated.

More from Hyderabad.

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