South Indian Bank (SIB) will achieve a turnover of Rs.75,000 crore by 2013, bank chief executive officer and managing director V.A. Joseph has said.

Addressing mediapersons here on Wednesday, he said the bank would achieve a 30 per cent growth then and increase its branches to 750, to cover most States.

The staff strength will reach 7,500 by 2013 as it had been recruiting 600 to 700 personnel each year, Dr. Joseph said.

A new corporate office will be opened at Thrissur by January next as part of the bank's 82nd anniversary. A new regional office will start functioning at Rajagiri Centre, Kalamassery, early next year, he said.

A new branch of the bank will open at Cherpulassery in the district next month. In reply to a question, Dr. Joseph said the bank would join the consortium to fund the Vizhinjam international transshipment terminal project, led by the State Bank of Travancore. The bank had always cooperated with the State in such projects, he added.

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