Hyderabad

SBH creates Cyberabad Zone, mobile app launched

Hyderabad: State Bank of Hyderabad Managing Director Santanu Mukherjee (R) and the Chief General Manager V Viswanathan launching a Mobile App SBH Touch in Hyderabad on Monday. PTI Photo(PTI9_7_2015_000044A)

Hyderabad: State Bank of Hyderabad Managing Director Santanu Mukherjee (R) and the Chief General Manager V Viswanathan launching a Mobile App SBH Touch in Hyderabad on Monday. PTI Photo(PTI9_7_2015_000044A)   | Photo Credit: PTI

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Created on September 1, the State Bank of Hyderabad new zone comprises 107 branches with a business level of Rs.16,228 crore -- deposits of Rs.12,151 crore.

State Bank of Hyderabad (SBH) has carved out a Cyberabad Zone to enhance focus on attracting more business from some of the fast growing areas of the city, both residential as well as commercial, particularly the IT hub.

Announcing the formation of the Cyberabad Zone to presspersons here on Monday, Managing Director Santanu Mukherjee said that by reorganising the branches in the Hyderabad network the zone has been formed.

Created on September 1, the new zone comprises 107 branches with a business level of Rs.16,228 crore -- deposits of Rs.12,151 crore and advances of Rs.4,077 crore.

Towards providing customised services for both personal and MSME customers, SBH has established a Retail Asset & Small, Medium Enterprises Credit Centre for the new zone. This is in addition to the existing four processing centres in the twin cities.

Mobile App launched

Mr. Mukherjee also unveiled the SBH Touch, a mobile app that the bank has added to meet the expectations of tech-savvy customers. This joins other services such as e-connect centres, internet banking and the green channel counters for retail as well as corporate customers.

To queries on SBH's performance, Mr. Mukherjee said that in terms of big advances there has not been big offtake in the fiscal so far. There has, however, been a rise in non-performing assets (NPAs) in the first quarter, which, he pointed out, was the case usually.

The NPAs come down as the fiscal progresses, he said, adding that the NPA "recovery [process] is fully active". Growth in NPAs, he said, has been more than recovery. The SBH this fiscal is targeting to bring down gross NPA level to 4.5 per cent by March from the previous fiscal's 5.14 per cent.

The bank is seeing growth in deposits, even after shedding around Rs.4,000 crore of high cost, bulk deposits. "Deposit growth appears to be quite good", he said, adding that the focus of the SBH on the credit disbursements side was on retail and MSME segments. There was also an upswing on the farm loan front.

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Printable version | Jan 27, 2020 12:08:37 AM | https://www.thehindu.com/news/cities/Hyderabad/sbh-creates-cyberabad-zone-mobile-app-launched/article7625146.ece

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