Special Correspondent

CHENNAI: Catholic Syrian Bank (CSB) said, on Monday, that all its branches would be networked under core banking solution (CBS) by the end of the current fiscal. The bank had roped in the Chennai-based Laser Soft Infosystems to jointly develop a core banking product to connect all its branches in a move to further strengthen its services.

Addressing a press conference here, Chairman and CEO of the bank, R. Venkataraman, said the bank had earmarked around Rs. 40 crore to implement the CBS project. Once the branches were networked, CSB would be in a position to offer a host of technology-driven products to its customers, he said. Up to now, 100 braches were brought under CBS network.

The bank, he said, would come out with a 1:1 rights issue in the next few days.