IOB to computerise all branches in Hyderabad
By Our Corporate Bureau | 04 Dec 2002
Hyderabad:
Indian Overseas Bank (IOB) has announced a detailed
plan to computerise all its branches in Andhra Pradesh
and also expand its distribution channels in the form
of automatic teller machines (ATMs).
In a press release here, the bank said it plans to set up 13 more ATMs in Hyderabad, taking its ATMs network in the city to 16 shortly.
Having computerised 98 out of 113 branches located in the State, which accounts for 87 per cent of the branch network in Andhra Pradesh, the bank plans to achieve 100 per cent computerisation of its branch network in the State soon.
Of the 113 branches of the bank, 42 were located in rural areas, 32 in semi-urban and 22 in urban centres. The balance 17 branches, located in the twin cities of Hyderabad and Secunderabad, are linked to the "Any Branch Banking" network of IOB, covering about 266 branches across the country.
As on September 30, 2002, the bank''s business volumes in the state stood at Rs 2,940 crore, of which deposits amounted to Rs 1,813 crore and advances at Rs 1,127 crore.
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