State Bank Of India

The country's largest public sector bank, State Bank of India has opened three more branches in Visakhapatnam on November 14, 2011, one each at Arilova, Venkojipalem and Lawson's Bay Colony. T.S. Krishnaswamy, General Manager of the bank inaugurated these branches.

With these new branches, the number of branches in Visakhapatnam district had crossed the hundred mark. The new branches will be included in the Super Circle of Excellence region in Visakhapatnam region consisting of 24 branches with a business volume of Rs 1,650 crore, the deposits being Rs 1,000 crore and the rest being advances. The Super Circle region had been introduced to serve the customers better and to face competition from the private and multinational banks.

Presently it has 1,260 branches in Andhra Pradesh, with the business volume being Rs 1,30,000 crore. The bank plans to increase the number of branches in the State to 1,300 by the end of the financial year.