THIRUVANANTHAPURAM: Kerala's premier public sector bank, State Bank of Travancore (SBT), is aiming to strengthen its presence in other States, bank's managing director K. Sitaramam has said.

The bank has 690 branches at the moment, but more than 80 per cent of them are in the home State itself.

The bank will henceforth give more stress on expanding its branch network outside the State, without neglecting further scope available within the State, he has said.

Addressing a press conference here on Friday night after the annual general meeting of the bank, Mr. Sitaramam said the SBT would open about 40 more branches during the current financial year.

He said the total business of the bank had crossed Rs.45,000 crores in 2005-06. The bank was targeting a business growth of Rs.9,000 crores this financial year.

He said that in retail loan segment, the bank's target was to deploy Rs.3,160 crores this year. The bank was targeting the disbursement of Rs.250 crores for smallscale industries, Rs.200 crores for students (educational loans), Rs.515 crores for traders, Rs.400 crores for small business ventures, Rs.810 crores for farmers (agriculture loans) and Rs.870 crores for housing loans during the current financial year.

IT initiatives

He said retail lending would be a thrust area for the SBT. It grew by Rs.3,006 crores last year and, as at the end of 2005-06, it constituted 55.71 per cent of the total advances of Rs.18,866.40 crores.

The credit-deposit (CD) ratio of the bank jumped from 62.88 per cent to 73.30 per cent during the course of 2005-06. By the end of the current financial year, it was projected to reach the level of 79.16 per cent, judging by the current trend and new initiatives planned.

During the current financial year, the bank proposed to add another 100 ATMs to its present network of 287 ATMs. Its ATMs were part of the State Bank Group's ATM network, the largest in the country. The bank also targets adding 10 lakhs ATM cards in 2006-07.

The core banking solution platform would be extended to the bank's controllers/administrative offices to quicken decision making. All internet banking customers would be provided with the facility to book rail tickets over the internet. The bank would further implement e-pay facility for settling bills towards utility services such as electricity supply.

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