Andhra Bank targets 30% growth in state

The public sector Andhra Bank targets a business growth of 30 percent in Orissa during the current fiscal. It aims to do a total business of Rs 4360 crore by March 2010 compared to Rs 3355 crore by the end of March 2009.

“We are targeting a business growth of 30 percent in Orissa during the current fiscal”, B L Gupta, zonal manager, Andhra Bank said. Addressing media persons before the celebration of the customers’ day on 27th of this month, Gupta said, the bank has 106 branches in the state at present. It intends to open 20 branches in different locations during 2009-10, for which it has already applied to the Reserve Bank of India (RBI) for license.

The bank also plans to increase the number of ATMs in Orissa to 36 with addition of 4 more ATMs during the current fiscal. .

The bank had a credit-deposit (C-D) ratio of 60 percent in the state by the end of 2008-09 and targets to increase the agricultural credit by 26 percent and the micro, small and medium enterprises (MSMEs) sector advances by about 30 percent in 2009-10.

As a matter of policy, the bank will focus on the retail, housing and non-agricultural gold loans in the state. Similarly, the bank restructured 800 MSME accounts during the last fiscal to help them tide over economic slowdown, he added. Stating that there will not be any recruitment freeze during the current fiscal, Gupta said, the bank will hold recruitment tests for about 7,000 clerical and the probationary officers across the country in the next month. Out of it, 25 clerks will be appointed in Orissa. He said, the bank will hold customers’ meet throughout the country on 27 May to get feedback from them and to apprise them of about various products available with the bank.