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Hyderabad, March 30 Deccan Grameena Bank is targeting Rs 5,000-crore worth business in next three years, according to its Chairman, Mr G. Subrahmanyam.

The bank, which is sponsored by the State Bank of Hyderabad, has over Rs 3,000 crore total business at present.

It would also be opening 10 new branches every year besides bringing 50 branches under core banking solution by 2010, Mr Subrahmanyam said after inauguration of its 200th branch at Mansoorabad near here on Monday.

“We will also be opening 10 ATMs in next two years,” he added. The bank, which has Rs 152 crore as profit reserves, currently operates one ATM at Mancheryal town in Andhra Pradesh.

Ms Renu Challu, Managing Director, SBH, who formally inaugurated the branch, said the regional rural banks in the country were registering good performance. “Even in urban areas, they are competing with commercial banks in catering to the needs of customers,” she added.

The bank, which operates in five districts — Adilabad, Karimnagar, Nizamabad, Ranga Reddy and Hyderabad — posted Rs 36.8 crore gross profit in 2007-08.

More Stories on : Regional Rural Banks | Andhra Pradesh

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