Andhra Bank targets Rs 3 lakh crore business by March 2015

Saturday, Oct 18, 2014,19:10 IST By metrovaartha A A A

The public sector Andhra Bank is targetting a business of over Rs 3 lakh crore by March 2015 and will be opening 400 more branches by then to take its total branch strength to 2,500. The bank presently has a business volume of Rs 2.66 lakh crore and is planning to cross Rs 3 lakh crore by March 2015, S K Kalra, Executive Director, told reporters in Kochi.
This would help it to shift from the mid category to a large category bank, he said. The bank at present has 2,100 branches pan India and would be opening at least 400 more branches by march next, he said. Andhra Bank today opened its new Zonal office in Kochi and a new branch with On site ATM at nearby Kadavanthra.
This would help it to achieve its target of Rs 2,000 crore business in Kerala this fiscal. There are also plans to open six more branches in Ernakulam district within the next couple of months and another 10 more branches in the other districts of the state, thus taking branch strength in Kerala to 42 by the end of this fiscal.
To cater to the new generation tech savvy customers, the bank has launched the ‘Navshakti’ initiative whereby customers can be served 24×7 and 365 days of the year.
As part of the initiative, a customer lobby catering to e-banking with the provision of e-machines like Bulk Note Acceptor, Passbook Printer, Net Banking Kiosk, Cheque deposit machines besides the ATM machine is provided in the Navshakti e-banking centre. There are presently 300 such centres in the country.
As a banking role model for women empowerment about 40 per cent of the branches are headed by lady managers. The bank has also actively participated in the Pradhan Mantri Jan Dhan Yojana by opening over 250 accounts per branch, he said.
The bank’s focus in Kerala will be on gold loan, MSME, Tourism and Real estate.