A top official of State Bank of India today said it was planning to open upto 100 new branches in Andhra Pradesh this financial year.
Speaking to reporters after inauguration a branch at Mindi on the outskirts of the city, SBI Chief General Manager Rakesh Sharma also said branches would be opened in semi-urban, urban and metros, to compete with private banks.
Also read: Q4 NPAs lower, positive on agri portfolio: SBI Chairman
SBI's deposits in the state stood at Rs 59,800 crore and advances at Rs 61,500 crore, he said, adding that the bank was focusing on housing loans. "Our interest rates are the lowest, many customers are transferring their housing loans to SBI.
Our present market share in housing loan is 28 percent. We want to increase it to 40 percent," he said.
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