Sep 21 2010 , Hyderabad
After wooing the super rich with the launch of India’s first crorepati branch, called Kohinoor Banjara in Hyderabad three weeks ago, the State Bank of India (SBI) is now working on a format to attract young working professionals in the age bracket of 21-35.
To be launched in Hyderabad again in three months, this proposed first-of-its-kind NextGeneration branch will have a resto lounge or a Cafe Coffee Day like environment with loud music, bold design and a colourful ambience.
As its slogan says, the banker to every Indian is doing all to attract customers from every segment of society.
As its slogan says, the banker to every Indian is doing all to attract customers from every segment of society.
Be it urban poor with Re 1 account facility to Kohinoor Banjara with minimum balance of Rs 1 crore for the elite class to a NextGen branch for upwardly mobile young professionals.
Shiva Kumar, chief general manager (AP circle) of SBI told FC, “Next month we will start work on a different kind of branch targeted at younger generation.
Shiva Kumar, chief general manager (AP circle) of SBI told FC, “Next month we will start work on a different kind of branch targeted at younger generation.
Though we already have significant number of Yuva account holders with us we want to change the perception of next generation about SBI with this proposed format.
We want the young working professionals to know that we have the right technology and the right product in right environment. The resto-look kind of format will be launched in three months in Hyderabad to start-with.”
Kumar declined to share details about the facilities at the proposed branch stating that work is in progress. He added, “We chose Hyderabad because it has the right mix of young and enterprising people to experiment the format with.
Kumar declined to share details about the facilities at the proposed branch stating that work is in progress. He added, “We chose Hyderabad because it has the right mix of young and enterprising people to experiment the format with.
We have started taking informal suggestions from our customers for facilities needed in the NextGen branch.”
According to Kumar, private banks have higher percentage of younger account holders compared to public sector banks. “However, we are seeing increasing number of younger customers walking into our branches too.
According to Kumar, private banks have higher percentage of younger account holders compared to public sector banks. “However, we are seeing increasing number of younger customers walking into our branches too.
Earlier we would get only grandfathers now young fathers have also started coming-in.” Kumar didn’t have details on absolute number of young account holders across SBI branches though.
Like the plush Kohinoor the NextGen branch will have a distinctive look. For instance, Kohinoor comprises a conference room called Sapphire with video conferencing facilities, wi-fi and plasma display, personal business centres, coffee bar called Pearl and a Nizam lounge. It also provides round-the-clock lockers stationed in AC furnished hall with wall mirrors and a dressing room too.
The high net worth individuals can open an account in Kohinoor only by invitation. In three weeks the existing branch has opened 60 accounts. It plans to add 200 more account holders by year-end.
The bank provides financial products and services like financial planning and advisory support, forex services, range of deposits, NRI services, SBI e- tax for online payment, demat and online trading facility.
Like the plush Kohinoor the NextGen branch will have a distinctive look. For instance, Kohinoor comprises a conference room called Sapphire with video conferencing facilities, wi-fi and plasma display, personal business centres, coffee bar called Pearl and a Nizam lounge. It also provides round-the-clock lockers stationed in AC furnished hall with wall mirrors and a dressing room too.
The high net worth individuals can open an account in Kohinoor only by invitation. In three weeks the existing branch has opened 60 accounts. It plans to add 200 more account holders by year-end.
The bank provides financial products and services like financial planning and advisory support, forex services, range of deposits, NRI services, SBI e- tax for online payment, demat and online trading facility.
“We expect to generate Rs 500 crore worth business from this branch by next financial year,” said Kumar.
urvashijha@mydigitalfc.com
urvashijha@mydigitalfc.com
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