Business Daily from THE HINDU group of publications
Friday, Apr 06, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Apr 06, 2007 ePaper |
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Money & Banking
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Outlook SBH aiming for Rs 1 lakh cr turnover this year Our Bureau
Hyderabad April 5 State Bank of Hyderabad (SBH) will be Basel-II norms compliant by September 2007. The bank, which completed 65 years today, is optimistic of achieving a business turnover of Rs 1 lakh crore by March 2008. The first branch of SBH was started at Gunfoundry, Hyderabad on April 5, 1942. According to a bank release, it has a network of 965 branches and 400 ATMs. SBH has brought all its branches under core banking solution and is offering value-added services such as any branch banking and Internet banking. With business processing re-engineering initiatives, the bank has improved the quality of customer service and credit delivery time, the release added. Started as the central bank of the erstwhile princely State of the Nizam of Hyderabad, the bank became a fully owned subsidiary of the Reserve Bank of India under the current name on October 22, 1956. Subsequently, it became a fully owned subsidiary of State Bank of India on October 1, 1959 under the SBI (Subsidiary Banks) Act, 1959. Recently, SBH was rated second best public sector bank in KPMG's annual survey of best banks in the country.
More Stories on : Outlook | Public Sector Banks
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