State Bank of India is anticipating rapid industrial growth in Visakhapatnam and the surrounding areas in view of the rich natural resources in the region, especially the huge natural gas find in the Krishna-Godavari basin, and therefore the bank has opened its first corporate branch here to cater to the needs of big clients, according to Mr A.P Verma, the Deputy Managing Director in charge of the corporate centre in Mumbai.
After inaugurating the specialised branch here on Tuesday, Mr Verma told reporters that SBI had opened 65 such branches in the country, including five in Andhra Pradesh (four in Hyderabad and one in Guntur), so far.
Mr Varma said the branches would offer all kinds of servicesto corporate clients including project consultancy under the same roof. “We hope to take the number of such specialised branches to 100 in the next two years or so, covering all the major business and trade centres in the country,” he added.
