Berhampur zone of Andhra Bank in expansion mode

BERHAMPUR: Andhra Bank has proposed to set up ten new branches and 25 new ATM counters in its Berhampur zone. It was stated by bank Deputy General Manager A.V. Ramkrishna Rao, who heads the zone of the Andhra Bank during a press meet held in the city recently. The Berhampur zone of Andhra Bank consists of eight districts. Seven of these districts -- Ganjam, Gajapati, Koraput, Nabarangpur, Kalahandi, Rayagada, and Kandhamal -- are in south Odisha. Srikakulam district of adjoining Andhra Pradesh is also under this zone of the bank. There are 79 branches of the bank in the zone. Out of them 43 branches are in Odisha. Andhra Bank is also the lead bank in Ganjam, Gajapati, and Srikakulam districts. Five of the proposed new branches will be in Odisha and the rest in Andhra Pradesh. One of these branches will be opened in Maoist-affected Malkangiri district. Three branches may come up in Ganjam district. During the current financial year, 25 ATMs in the zone would be opened and out of them, three would be established in Berhampur, Mr. Rao said. Speaking on the achievement of the bank in the zone during the past financial year, Mr. Rao said there was an overall growth of 14.73 per cent in the zone. There was 21.58 per cent growth in deposits. Total deposit and advances of the bank in the zone stood at Rs. 2192.88 crore and Rs. 937.83 crore respectively. Total agricultural advances of the bank in the zone were Rs. 380.70 crore which was 40.59 per cent of the total advances.

Source: The Hindu