Following the revival in the power, infrastructure, cement, hospitality, steel and road sectors, State Bank of Hyderabad (SBH) is hopeful of achieving 22% growth in the credit flow this year. Sensing a good monsoon, the bank is expecting a 22% in the agriculture sector, 35% growth in personal banking and 35% in the MSME sector.
With the growth target in place, the bank is all set to spread wings to the west and would be opening 230 branches this year. According to Renu Challa, MD, it is waiting for licences from the Reserve Bank of India (RBI) for 89 branches. The remaining 141 do not require a licence as they are in areas with a population of less than 50,000. ?Our aim is to strengthen our footprint in AP by adding 140 of these proposed branches in the state,? Challu said, adding the bank had applied for five licences for Uttarakhand and two for Chhattisgarh. ?We expect to foray into these two states by the end of this fiscal.?