The Hindu Business Line : Andhra Bank plans to mop up Rs 200 cr in Vizag, E Godavari

ANDHRA Bank plans to mobilise deposits of Rs 200 crore in East Godavari and Visakhapatnam zones during the month-long Deposit Utsav which began on Wednesday.

Mr K. Suryanarayana, Deputy General Manager at Visakhapatnam, said at a press meet here on Wednesday that deposits in the Visakhapatnam zone (Visakhapatnam, Vizianagaram and Srikakulam districts) currently amounted to Rs 1,555 crore and advances, Rs 735 crore.

He said the projected business by the end of the current financial year was Rs 2,800 crore. Fifteen ATMs would be added to the existing network of 24 in the zone, which had 79 branches and nine extension counters. He said the bank offered several deposit schemes with insurance linkage and customers could avail these during the month.Two more branches in East Godavari: At another press conference in Kakinada, Mr Y. Prasad, Deputy General Manager, said Rs 100 crore would be mobilised during the month. The deposits in the zone amounted to Rs 1,037 crore and advances, Rs 900 crore.

Twenty ATMs would be added to the existing network of 14. "We plan to set up two more branches end-December — one each at Yedurulanka and Rajahmundry," he said.

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Andhra Bank plans to mop up Rs 200 cr in Vizag, E Godavari