The chief general manager, Rakesh Sharma, told reporters that the first such branch, Kohinoor Banjara, had been opened in Hyderabad a year ago and so far had mobilized Rs 500 crore in deposits, while the advances amounted to Rs 150 crore.
"We expect the branch here to mobilize INR1000 million by the end of the financial year," Sharma said.
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The minimum deposit at the Vishakhapatnam branch is INR5 million, while at Hyderabad, it is INR10 million.
Additionally, there is also a proposal to open the third Kohinoor branch in the State in Vijayawada in a year or so. "There is a great potential for such a branch there," Sharma added.
Currently, SBI has 1,302 branches in the state and has targeted to open 107 more this year. Of this, 28 branches have been opened so far, while the remaining will come up by the end of this fiscal.
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