Syndicate Bank is planning to expand its overseas operations by opening branches in South Africa, the United Arab Emirates, Hong Kong, China and Thailand, bank Chairman and Managing Director Sudhir Kumar Jain said here on Saturday.
Addressing a press conference here, Mr. Jain said at present the bank had a overseas branch in London. Besides overseas branches, the bank had plans to open 25 more mid-corporate branches to cater to micro, small and medium enterprises.
As part of the expansion, the bank had recruited about 5,000 personnel this year to give a boost to current and savings accounts.
ADVERTISEMENT
Around 750 of them would be specialised officers, he said, and added that the bank planned to identify 100 executives for giving them vigorous training to groom them to take future assignments.
Disclosing that the bank had achieved a good performance in the last fiscal, the Chairman said the NPA level of the bank, which stood at 2.62 per cent, was one of the lowest.
The bank’s educational loan portfolio was Rs.430 crore, he said, adding that the home loans accounted for 20 per cent of the total advances of the bank. Mr. Jain said the bank had expanded reach in the State by opening more branches.
ADVERTISEMENT
At present, the bank had206 branches across the State, he said, adding that 15 more branches would be opened soon. While the bank’s market share in the State was 10 per cent, the business of the bank’s Kannur region accounted for 21 per cent, he added. He said that the bank had provided new banking outlets in 2,248 villages having population of less than 2,000.
Later, Mr. Jain inaugurated the bank’s new branch and ATM at the Civil Station here.