SBI Eluru branch earns Rs 18 cr profit: AGM

Eluru: State Bank of India Eluru branch has earned Rs 18 crore profit last year, said SBI Eluru AGM KV Ramanaiah. Speaking to the media here on Tuesday, he said that the bank has earned profit by not only catering to the needs of customers, but also extending the bank trade. He further said,"SBI Eluru main branch was in top position among all the branches under the jurisdiction of East Godavari, West Godavari and Krishna districts. Notably, it also attracted more customers during loan mela which was held in July last year. Similarly, loan mela would be held this year July. Housing loans, car loans and other loans were granted to the customers. Hence, the bank attained top position," claimed the SBI AGM "The bank has collected Rs 240 crore deposits during 2012-13 and the growth rate was 22.39 per cent higher than last year. Similarly, Rs 334 crore loans were distributed which was Rs 20.06 crore more than previous year. While Rs 31 crore was granted for the farm sector and Rs 95 crore were given as personal loans," he said. By tying up with the builders and car showrooms, they are able to provide services under one roof, he claimed. Furthermore, the bank attracted customers by granting loans sans any hassles and reducing the processing charge. The bank also providing Rs 4 lakh insurance on paying of Rs 100 by the customers, he said and added that it proved beneficial as one of the customers, who died in Dilsukhngar bomb blast, had took personal insurance. So, the bank paid Rs 4 lakh to the bereaved family, he recalled. The customers, who have savings account in the bank can avail this opportunity, he said. SBI Chief Manager personal loans KVYL Narsimha Rao, SBI district coordinator Nageshwar Rao and others were present.