Largest Bank of Andhra Pradesh, State Bank of India is likely to be allotted 10 acres in Amaravathi, the upcoming state capital. The SBI has headquarters of both AP and Telangana in Hyderabad right now and is keen on establishing AP’s State headquarters in the capital region as it sees a huge business opportunity there.
The SBI has 1424 branches in both Andhra Pradesh and Telangana. SBI reportedly forwarded a reuest for 10 Acres for the headquarter and the state government responded positively. The allotment will be made after the Master Plan of the capital is approved.
The bank foresees immense potential in realty sector in the Capital region and it will be focusing on housing loans and other retail loans. The bank also sees good potential in industrial sector once the investments begin to flow in to the state.
