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Tuesday, December 13, 2011

SBI Mangalore main branch tops Rs 1,000-cr in business

The Mangalore main branch of State Bank of India (SBI) has crossed a business of Rs 1,000 crore, according to Mr B.G. Sadashiva, Assistant General Manager, SBI Main Branch, Mangalore.

He said that the Mangalore main branch of SBI is the only SBI branch outside Bangalore city limits in Karnataka to reach the business level of Rs 1,000 crore.

The main branch in Mangalore was opened on October 1, 1869, and is the oldest bank branch in Mangalore city. At that time, it was known as Bank of Madras.

Speaking to Business Line, Mr Sadashiva said that it is a significant achievement to reach Rs 1,000crore business. The branch does not have major corporate accounts. Mainly retail and SME (small and medium enterprises) accounts contribute to a significant share of the advances. The NRI (non-resident Indian) segment contributes a major portion to the total deposits of the branch, he said.

The share of deposits to the total business stood at around Rs 800 crore. This included NRI and retail deposits.

He said retail loans, such as housing and car loans, and SME advances have around 50:50 share in the total advances portfolio of the branch.

The branch celebrated its landmark achievement on December 10, in the presence of Mr Ashwini Mehra, Chief General Manager, Local Head Office, SBI, Bangalore, he said.

Stating that the bank has set up a customer service centre in Mangalore city, Mr Sadashiva said customers can make cash deposits up to Rs 10,000 to any of the branches of any bank from this customer service centre. This is the first customer service centre of the bank in Dakshina Kannada district. Plans are afoot to open three more customer service centres in the city, he added.


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