Earlier this month, SIB had won the 10th 'Financial Express Award' for India's best banks in the traditional banks category.

V.A. Joseph, managing director and chief executive of the bank, said this award 'speaks strongly of the corporate metamorphosis SIB has undergone and also our commitment to excellence even in these turbulent times'.

SIB has set a target of achieving business worth Rs.75,000 crore by 2013. It also plans to take its headcount to 7,500 and the number of branches to 750.