Good show by SBI Hyderabad module

Hyderabad: The Hyderabad module of the State Bank of India (SBI), the biggest module of the bank (253 branches spread across two geographical zones of Andhra Pradesh - Telangana and parts of Rayalaseema), has registered a significant growth in performance, both in terms of deposits and advances, during the first 11 months of the current fiscal year.

As against the total deposits of Rs 3,360 crore and advances of Rs 1,611 crore during the last fiscal year, the Hyderabad module achieved a deposit base of Rs 3,906 crore and advances of Rs 1,787 crore by the end of February 2002.

Says SBI deputy general manager A Damodaram: The module achieved recoveries of around Rs 120 crore, of which around Rs 60 crore were cash recoveries and the balance were through the compromise route. The current gross NPA level of the module is at around 12 per.

Apart from setting up seven personal banking branches in the twin cities of Hyderabad and Secunderabad to handle niche banking, the module has decided to set up ATMs at the branches of district headquarters like Kurnool, Sangareddy, Khammam, Karimnagar, Nayeemnagar and Nizamabad.