SBI to expand branch network in UP

State Bank of India is considering of expanding its network in Uttar Pradesh.

The bank is thinking of opening up of 162 new branches in the state by March next year.

The new branches will be mainly opened in the rural and semi urban centers of the state.

At present bank is having a network of 1033 branches and with the opening of new branches the network will increase to 1195 in the circle.

According to the latest Reserve Bank of India data for June this year, the Bank has shown growth in market share in both deposits and advances.

As per the data, the market share in deposits for SBI Lucknow Circle has shown the growth in one quarter by 129 basic points. Likewise, in advances the market share has also grown by 64 basic points.