The Visakhapatnam Cooperative Bank is planning to open a couple of more branches in the state during the next financial year including in Hyderabad. The bank currently has 16 branches in Visakhapatnam, Vizianagaram, Srikakualam and East Godavari districts.
“We opened our 16th branch at Anakapalli recently. Next fiscal, we would open 3-4 branches in the state, of which one will come up in Hyderabad and two more outside Visakhapatnam district,” Narasimha Murthy, secretary, VCB, said.
The cooperative urban bank has collected more than Rs 88 crore new deposits so far during this fiscal. The total deposits now stands at Rs 472 crore. The bank released Rs 62 crore as advances this year.
It is also planning to sell insurance policies and is in talks with life insurance companies in this regard.
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