[sbinews] State Bank group to roll out core banking solution-(The Economic Times)
- From: rspai@xxxxxxxx
- To: sbinews@xxxxxxxxxxxxx
- Date: Fri, 19 Dec 2003 05:14:43 +0500
State Bank group to roll out core banking solution
(The Economic Times)
TIMES NEWS NETWORK[ FRIDAY, DECEMBER 19, 2003 01:47:55 AM ]
HYDERABAD : The State Bank group along with its associate banks is expected to
roll out its core banking solution by early next year to increase the scope of
services that can be extended to customers.
The centralised core banking solution is one of the largest projects of its
kind and is being implemented by leading software services provider, Tata
Consultancy Services.
Addressing a press conference here on Thursday, Mr Chandan Bhattacharya,
managing director of the State Bank group said a pilot project has been
introduced in eight branches of the group and the roll-out will start in few
months, without mentioning the time frame.
Bhattacharya was in Hyderabad to witness the achievement of 100%
computerisation of State Bank of Hyderabad branches.
Along with core banking solution and technologies, the State Bank group is also
undertaking the process of redesigning the business processes which should be
completed by next year. With more than 3,000 ATMs in its network, the group is
also taking initiatives to spread the network.
“By the end of financial year, we will have the largest network of ATMs in Asia
. We are also partnering other banks to utilise our network on payment basis,”
he said. The State Bank group has altogether invested Rs 120 crore in
computerising its branches, out of Rs 350 crore earmarked for the entire
programme of expanding ATMs and undertaking technology initiatives.
Meanwhile SBH plans to install another 170 ATMs by March 2004 taking its total
network to 250. SBH Managing Director A G Kalmankar said within the next few
months, the bank is preparing to introduce transaction-based internet banking
and expansion of ATM networks. It will also move over to core banking solution
next year.
As on November 30, 2003 , SBH’s business levels crossed Rs 31,500 crore, with
aggregate deposits reaching Rs 20,782 crore and advances Rs 10,803 crore. The
bank’s operating profit stands at RS 575 crore. SBH has gross NPAs at Rs 850
core, while the net NPAs stand at Rs 290 crore.
Bhattacharya said by end of the current financial year at least four out of
seven associate banks will have NPA levels less than 1% of total advances,
while SBI itself is targeting to bring down its NPA ratio to less than 2% of
total advances by March 2005.
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