The Hindu Business Line : Bank of Maharashtra to expand in AP

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Hyderabad Feb 2 Bank of Maharashtra plans to expand its branch network in Andhra Pradesh and increase business with focus on infrastructure, retail and SME segments, according to its Executive Director, Mr Rajiv Madhok.

The bank plans to open four branches in the State in 2007-08. Currently, it has 30 branches in the State.

Mr Madhok was in the city after inaugurating a branch in Nellore district on January 31.

The bank has done business of over Rs 1,500 crore in the State as on date, with infrastructure accounting for over Rs 250 crore.

The bank has decided to bring 500 of its 1,332 branches across the country under core banking solution by the end of March 2008.

In the Hyderabad region, the first branch to go online would be the ECIL Road, Kapra branch. TCS is providing the software for the project, he added.

Bank of Maharashtra wants to focus on increasing its revenues from fee-based products like insurance.

More Stories on : Public Sector Banks | Andhra Pradesh

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