Financial Daily from THE HINDU group of publications
Wednesday, Nov 10, 2004
Financial Daily from THE HINDU group of publications Wednesday, Nov 10, 2004 |
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Money & Banking
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Consumer Finance Andhra Bank hardsells retail products Our Bureau
Kakinada , Nov. 9 THE Andhra Bank is currently on a campaign to sell its retail products aggressively and the drive will continue for two more months, Mr K. Subhash Chander Reddy, General Manager, has said. He was addressing a press meet here on Monday evening after the bank had sanctioned housing loans, vehicle loans and others worth Rs 2 crore earlier in the day as a part of the campaign. Mr Reddy said the bank had introduced a number of innovative schemes such as AB Aroygadan, Kids Khazana, Abhaya Jeevan and others. ``We will hold customer meets to make the public aware of the features of these schemes and sell them,'' he said. He said the bank had the advantage of a large network of branches to take up retail banking in the aggressive style. He said the bank had succeeded in bringing down net NPA to 0.20 per cent during the first six months of the current financial year, against 1.07 per cent during the corresponding period last year. ` `It is one of the lowest in the industry. The gross NPA has come down from 5.23 per cent to 3.57,'' he said. During the past six months, he said, the bank had made a net profit of Rs 259 crore. He said the bank was concentrating on consolidating its ATM network. Four more ATMs would be set up in East Godavari in addition to the existing 11.
More Stories on : Consumer Finance | Andhra Pradesh | Public Sector Banks
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