Free Press Journal

Andhra Bank plans to open 500 new branches in 2014-15


Chandigarh: Public sector lender Andhra Bank today said it will open 500 new branches next fiscal as it plans to expand its presence across the country.

“We will be opening 500 new branches in 2014-15,” bank’s Executive Director S K Kalra told reporters here.

Currently, Andhra Bank has a total branch network of 2,000 in the country.

In Chandigarh zone, the bank will be opening 50 more branches in Haryana, Punjab, Himachal Pradesh, Uttarakhand, Jammu & Kashmir and Union Terriroty of Chandigarh.

Kalra said that the bank would focus on retail and SME loans for disbursement of advances.

Andhra Bank is targeting to achieve total business size of Rs 2.60 lakh crore by end of 2013-14.

Bank’s ED today inaugurated a high tech branch here which is equipped with cash deposit machine, cheque deposit machine, self-service passbook printing kiosk and Internet banking kiosk in order to provide faster banking services to customers.