State Bank of India (SBI) opened its second Kohinoor premium banking centre at Visakhapatnam on Wednesday.
The first centre was set up in Hyderabad a year and a half ago. Kohinoor caters to very high networth individuals, who have opening balance of Rs 50 lakh to Rs 1 crore.
“The SBI corporate office is also planning to start such special branches in all the metros in the coming days and we will set up our third such branch in Vijayawada in six to 12 months,” said Rakesh Sharma, chief general manager, SBI.
The Hyderabad centre has mobilised deposits worth Rs 500 crore in just 18 months. The bank expects the Vizag centre to see deposits worth Rs 100 crore by the fiscal end.
SBI has 1,302 branches in the state at present and has targeted to open 107 more this year. Of this, 28 branches have been opened so far and the remaining 79 will come up by the end of this fiscal.
