State Bank of Hyderabad to expand

State Bank of Hyderabad (SBH) aims to expand its presence in Orissa by setting up four new branches in the state in 2009-10.

Addressing media persons on the sidelines of National Management Seminar held here at the Asian School of Business Management, Renu Challu, managing director of SBH said, “We have already applied to the Reserve Bank of India (RBI) for setting up our new branches in Orissa and these branches will come up in the next fiscal.”

At present, SBH has six branches in Orissa, which includes three branches in Bhubaneswar, two in Cuttack and one in Berhampur.

SBH is also looking to ramp up its pan India network and it has targeted to set up around 200 branches by the end of 2009-10 out of which 50 new branches will be added by the end of this fiscal.

On credit offtake, Challu said, “SBH is expecting a credit growth of about 25 per cent in the next two quarters of 2008-09. The bank will extend its credit to firms in sectors like power, cement, fertilisers and real estate. However, we will be selective in extending real estate loans and only those real estate developers with a proven track record and good net worth will be considered.”

SBH has recently rolled out the Smart Salary Account solution for corporates which includes features like pre approved credit facility besides offering car loans and personal loans.