Syndicate Bank to expand in TS

Published on May 15, 2015 01:42:44 AM
Business
Syndicate Bank is planning to add over 50 new branches in the two states of Telangana and Andhra Pradesh to constitute a total of 600 branches in its jurisdiction, said M Mohan Reddy, GM at field general manager’s office (FGMO) of the bank. It currently comprises of 544 branches and 365 ATMs in the two states.

"The bank has identified 18 branches as Star Branches for giving more thrust to high business growth as a part of Corporate Strategies of Vision 2020 to reach a total business level of 10 lakh crore as on March 31, 2020. We have opened 53 branches during the year in both the states.

FGMO Hyderabad has targeted for growth in total business to the level of `55,000 crore as on March 31, 2016” said Reddy while announcing the audited financial results for 2014-15. Total business of the FGMO grew from `37,000 crore to `46,000 crore as on March 31.