[sbinews] State Bank group to become NPA-free by 2005 -(The Economic Times)
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- Date: Fri, 19 Dec 2003 05:18:38 +0500
State Bank group to become NPA-free by 2005
(The Economic Times)
PTI[ THURSDAY, DECEMBER 18, 2003 10:31:25 PM ]
HYDERABAD: The State Bank group would emerge as the largest bank in Asia by the
end of next financial year and its net Net Performing Assets (NPAs) would be
zero per cent from the existing one per cent, State Bank Group, Managing
Director, Chandan Bhattacharya, said here on Thursday.
"The technology initiatives adopted by SBI and its seven-associates has taken
the group on par with international banks", Bhattacharya told reporters on the
occasion of computerisation of State Bank of Hyderabad (SBH).
"After computerisation of its branches, we will move on to e-banking and
tele-banking", he said adding, the SB group has taken up computerisation
project with Rs 600 crore and would continue to spend on the emerging
technologies in the sector.
SBH Managing Director, A G Kalmankar, said among the associate banks, SBH has
deposits to the tune of Rs 20,782 crore and advances of Rs 10,803 crore.
As a part of providing anywhere anytime banking, the bank is installing 170
ATMs by March next taking the total to 250, Kalmankar informed
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