BHUBANESWAR: The State Bank of India today announced plans for massive expansion of its branches and ATM network across the State in 2009-10.
The public sector banking major has already obtained licences for opening 70 new branches and has started work on it. With the additions, the total number of branches would go up to 582. The bank had opened 46 branches in the last fiscal.
Chief general manager, Bhubaneswar Circle, MN Rao told mediapersons here today that as many as 800 new ATMs were proposed to be installed this year.
Currently the bank had an ATM network of 508 of which 175 were added in the preceding fiscal.
Rao said that the average hit in an ATM per day was an overwhelming 428 with many registering more than 600 hits. The volume had posed a problem of overcrowding at ATMs prompting the bank to focus on installing multiple ATMs at one place.
Giving out the performance of the bank in 2008-09 fiscal, Rao said total business had gone up by 31.18 per cent over the previous year totalling around Rs 37,738 crore.
Deposits at Rs 24,666 crore had gone up by Rs 7,081 crore, posting a growth rate of over 40.27 per cent.
Advances at Rs 12,640 crore had also increased by 1,904 crore over 2008-09, registering a growth of 17.73 per cent.
The bank, which is operating a rural self-employment training institute (RSETI) by the name sadhana at G Udaygiri in Kandhamal district has proposed to open five more RSETIs in districts in the current year.
Out of the 19 districts allotted to it, 100 per cent financial inclusion has been achieved in four. All districts are targeted to be covered by September this year, Rao said.