Syndicate Bank will open 55 new branches in Andhra Pradesh and Telangana during the current financial year.

Disclosing this at a press conference here, its General Manager M Mohan Reddy said the bank had fixed a target to take the total business to Rs 55,000 crore by March 31, 2016.

During the year ended March 31, 2015, Syndicate Bank’s business in the two states grew 24 per cent from Rs 37,000 crore to 46,000 crore. Deposits and advances grew 34 per cent and 17 per cent, respectively.

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