SBH to extend Rs 9k cr additional loans to MSMEs | SupportBiz

In Brief

SBH to extend Rs 9k cr additional loans to MSMEs

In addition to the already disbursed loan of Rs 1,500 crore, the State Bank of Hyderabad (SBH) is aiming to provide additional loans worth Rs 9,000 crore to the micro, small and medium enterprises (MSMEs) in FY 2013.

According to the Bank’s Managing Director M. Bhagavantha Rao, SBH is confident to reach its target by February 2014. He was speaking at the inauguration of the Bank’s new zonal office in Chennai.

Rao said that, the Bank’s aim would also be to reduce high cost deposits from 25 to 15 per cent in the total deposits of Rs 1.20 lakh crore.

SBH also aims to open 14 more branches in Tamil Nadu in addition to the existing 41 branches, Rao added. 


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