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South Indian Bank has achieved the business target of Rs 75,000 crore as envisaged in Vision Document 2013.
V.A. Joseph, Managing Director and CEO, said the achievement is the culmination of the vision set in 2008. The total business of the bank in that year was Rs 25,000 crore.
The bank had set a goal to achieve a total business of Rs 75,000 crore, network of 750 branches, 750 ATMs and 7,500 employees by 2013.
“What makes this achievement special is the fact that SIB could achieve a total business of Rs 75,000 crore, 750 branches and 800 ATMs with just 6,400 employees. This achievement is testimony to the increased productivity of each SIB employee,” he added.
The average age of employees has been reduced to 35, compared to 49 in 2008. The bank has also increased its national presence with new branches in Assam, Tripura, Meghalaya, Nagaland, Himachal Pradesh and Jammu and Kashmir.
By 2014, the bank plans to achieve a total business of Rs 1 lakh crore with 800 branches and 1,000 ATMs, he added.
sajeevkumar.v@thehindu.co.in
Source: thehindubusinessline
V.A. Joseph, Managing Director and CEO, said the achievement is the culmination of the vision set in 2008. The total business of the bank in that year was Rs 25,000 crore.
The bank had set a goal to achieve a total business of Rs 75,000 crore, network of 750 branches, 750 ATMs and 7,500 employees by 2013.
“What makes this achievement special is the fact that SIB could achieve a total business of Rs 75,000 crore, 750 branches and 800 ATMs with just 6,400 employees. This achievement is testimony to the increased productivity of each SIB employee,” he added.
The average age of employees has been reduced to 35, compared to 49 in 2008. The bank has also increased its national presence with new branches in Assam, Tripura, Meghalaya, Nagaland, Himachal Pradesh and Jammu and Kashmir.
By 2014, the bank plans to achieve a total business of Rs 1 lakh crore with 800 branches and 1,000 ATMs, he added.
sajeevkumar.v@thehindu.co.in
Source: thehindubusinessline
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