SBH eyes Rs 1 lakh crore business target by March 2008

Bhubaneswar, Mar 2(UNI) With the operating profits up at Rs 724 crore and net profit of Rs 305.96 crore during the Q3 of the curreent fiscal, the State Bank of Hyderabad has set a business target of Rs 1 lakh crore by March 2008.

Stating this to newsmen here today, prior to the executive meeting of the Board of Directors, State Bank of Hyderabad Managing Director Amitabha Guha said the bank has been rated as the second best public sector bank based on performance for year-ending March 2007 with a targetted business of Rs 70,000 crore.

Mr Guha said in the micro finance sector, the bank has funded over nine lakh farmers and launched an ambitious plan to enroll 50,000 farmers' accounts every year.

He said 1,58,041 Self Help Group(SHG) were also linked to the bank with an outlay of nearly Rs 612 crore and Kisan Credit Card to 6.5 lakh farmers with a total outlay of Rs 1400 crore.

Mr Guha said the bank has developed public-private partnership in setting up 100 outlets named 'Krushi Sahayag' to provide financial assistance as well as extension service to the needy farmers in the country.

UNI