Coimbatore Zone aims to achieve Rs 5,000 crore business

The Coimbatore Zone of Andhra Bank aims to achieve a business level of Rs 5,000 crore by the end of this fiscal, a top bank official today said.
The zone, comprising 23 districts of Tamil Nadu, has crossed a business of Rs 3,677 crore at September end, with deposits at Rs 823 crore and advances at Rs 2,854 crore, J Vamana Rao, Assistant General Manager of the Bank told reporters here on the occasion of Founder's Day celebrations.
He said the zone, which was carved out of Chennai Zone in May last, is having 42 branches and 33 ATMs. It was proposed to open another 30 branches and 25 ATMs before this financial year.

The proposed ATMs will have cash deposit facility also, he said.
The zone, which mainly focused on Corporate advances, is now focusing on lending to small traders, SMEs and Exporters in a big way, Rao said.
Though there was an NPA of Rs 331 crore in the zone, the situation is now improving and the bank is expected to bring it down in another few months, Rao added.