SBT looks beyond Kerala

Written by Sajan C Kumar | Chennai | Updated: Dec 29 2012, 08:15am hrs
Kerala-based State Bank of Travancore (SBT) is expanding aggressively in other southern states and will sport a much younger look. The bank plans to recruit 2,500-3,000 people and around 50% of its staff will be below 30 years by 2015, says P Nanda Kumaran, the managing director of SBT.

Earlier, around 90% of bank's focus was on Kerala, but in the last few years we are growing out of Kerala, mainly in Tamil Nadu and Andhra Pradesh, he said, adding, Since the bank is going in for massive recruitment in another three years, it will get a younger look.

Speaking on the sidelines of a recent Cibil conference in Chennai, he said the bank aims to grow 25% in the current financial year. If the industry grows 25%, SBT will grow by around 10% more than the industry, but looking at current industry's growth, which is around 15-18%, I would be glad if we grow at 25%, he said.

The total income of the bank improved by 29% to R7,477 crore in 2011-12 from R5,819 crore in the previous year. The major growth segment the bank has been NRI deposits, which contributes close to 25% of the total deposits. The bank had reported a 40% growth in NRI deposits, year on year.