The biggest home loan lender in the country, State Bank of India has opened the 1st distinct branch meant exclusively for the ultra rich individuals (HNIs) in the country. The branch is the 1st of its type in India.
Shiv Kumar, chief GM, (Hyderabad circle) SBI, “Accounts will be opened through invitations by the bank. We are targeting around 250 upper elite customers by March 2011 for this branch”.
SBI anticipates to generate turnover of Rs 100 crore just from this branch in the next 6 months. This branch has been named as Kohinoor Banjara Premium Banking Centre.
The bank plans to open more branches of this type in the country as well as in Andhra Pradesh.
Diwakar Gupta, deputy MD and group executive – Rural Business, SBI said, “As the economy has come out from the recession, we have upgraded our banking service to meet the current demand. The centre, with state-of-the-art technology-enabled facility, will provide the customers a feel-good ambience in terms of space and personalised services”.
The branch would offer locker service accessible 24×7 without any advance appointment. Other services offered by the branch include cheque/draft pick up, deliver services, video conferencing, financial planning, forex services, SBI e-Tax, e-invest and online trading.