Southern States - Andhra Pradesh   

IndusInd Bank to go online

By Our Special Correspondent

VISAKHAPATNAM AUG. 9. IndusInd Bank will launch its Internet banking next week, according to the private sector bank's executive vice-president, Fali F. Forbes.

Talking to reporters here on Friday after the inauguration the bank's extension counter at Vizag Journalists Forum building in Seethammadhara, he said that the bank had acquired the channel banking technology from CR2, an Irish company and a world leader in this process.

Stating that the bank had made significant progress in the personal banking segment with its innovative products and customer-friendly service "catering to the needs of people ranging from children to senior citizens'', Mr. Forbes revealed that the bank would soon launch its global credit card and debit card schemes in concert with HSBC and Visa respectively.

``We also intend providing mutual fund and insurance product services to our customers,'' he indicated.

The VJF extension counter was the 89th outlet of the bank in the country and fifth in the city---its fourth ATM was opened on Thursday at the HPCL outlet opposite RTC Complex---he said and added that by the end of this fiscal, it hoped to have 200 outlets. The branch network was expected to touch 100 from the existing 49. "Our Vijayawada and Guntur branches are awaiting the Reserve Bank of India clearance.''

On the bank's performance, Mr. Forbes said that it recorded a total income of Rs.239.91 crores for the first quarter of this fiscal, a 19.92 per cent growth over that for the corresponding period last year. The net profit for the period stood at Rs.17.48 crores, against Rs.11.37 crores previously.

Earlier, the VJF extension counter was formally inaugurated by the VUDA Chairman, S.A. Rehaman, and its ATM by the VUDA Vice-Chairman, S.G.K. Kishore. Mr. K.S. Sastry, the bank's assistant vice-president, and the VJF president, P. Sivasankar, were present.

Printer friendly page  
Send this article to Friends by E-Mail

Southern States

News: Front Page | National | Southern States | Other States | International | Opinion | Business | Sport | Miscellaneous |
Advts: Classifieds | Employment | Obituary |

Stories in this Section

• Accord reached on miners' demands
• Heavy rain in A.P.
• IndusInd Bank to go online
• Retention of students more important: Collector
• Education is right of children, says CM

Copyright © 2002, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu