SBI has highest number of branches based at rented locations

NEW DELHI, Dec 21:  The country’s largest bank State Bank of India (SBI) has the highest number of branches running from rented facilities among public sector banks.
A total 85,356 branches of all public sector banks were running from rented buildings.
As of December 19, 2014, as many as 15,570 branches of SBI were running from rented accommodations, followed by Punjab National Bank with 6,596 such branches.
Canara Bank was running 5,523 branches from rented places, and Bank of Baroda 4,865 branches. The number of such branches for Bank of India and Union Bank was at 4,516 and 4,109 respectively.
However, as many as 4,699 branches of PSU banks running from rented facilities were pending lease renewal, according to an official data.
“Government has issed an advisory to all public sector banks that banks must ensure to renew all leases as per the contractual arrangement,” as per the data report.
Also, government has asked PSU banks to list out the pending cases for renewal in their boards once in six months. (PTI)

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