SIB to open new branches in northern states

Kottayam, Apr 5 (UNI) The Thrissur-based private sector South Indian Bank (SIB), has drawn up plans to foray into four more states in the northern areas of the country by opening new branches, its Chairman V A Joseph said today.

He said the bank had opened its 450th branch in Bhubaneswar recently. It would make its presence in 23 states during the fiscal, he told reporters here.

Recently, the bank created a record in the banking industry by opening 14 new branches on a single day in March 2006, he said adding that SIB had applied for 18 more new branches, which would be opened in the current year itself.

During the fiscal, the bank was planning to enter unrepresented states like Jammu and Kashmir, Jharkhand, Uttaranchal and Assam. As part of branch expansion programme, the SIB was aiming at increasing the branch network to 500 in 23 states, he added.

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