The total business of the Thrissur-based South Indian Bank (SIB) has crossed a landmark figure of Rs 75,000 crore. According to managing director and CEO V A Joseph, this achievement is the culmination of a vision set in 2008.
In 2008, the total business of the bank was Rs 25,000 crore.
As part of 'Vision 2013', the bank had set a goal to achieve a total business of Rs 75,000 crore, 750 branches, 750 ATMs, and 7,500 employees by 2013.
SIB has also increased its national presence by opening branches in Assam, Meghalaya, Nagaland, Tripura, Himachal Pradesh, and Jammu & Kashmir.
By 2014, the bank plans to achieve a total business of Rs 1 lakh crore. It also aims to have a network of 800 branches and 1,000 ATMs.
Joseph said the average age of employees has also been brought down to 35, which was 49 in 2008. Currently, 3,274 employees of the bank are below 30 years of age. There are 949 MBAs and 602 engineers among the staff.
