Andhra Bank to expand in eastern region

Andhra Bank has chalked out expansion plans in the eastern part of the country and proposed to open eight branches in West Bengal, and one each in Jharkhand, Sikkim and Chattisgarh.

The bank proposes to increase delivery channels like ATMs at important locations in Kolkata and other towns of West Bengal.

The bank currently has 28 branches and five extension counters in the Kolkata zone, spread over the five states of West Bengal, Chattisgarh, Jharkhand, Bihar and Assam.

In West Bengal, the bank has 12 branches in Kolkata and seven in other locations of the state. The total business of the bank in the zone is to the tune of Rs 1,413 crore consisting of Rs 1,002 crore deposits and Rs 411 crore of advances.

The bank has major exposure to the iron and steel and tea sectors in the region, according to a bank's press release here on Sunday.

Across the country, Andhra Bank has 1,177 branches, 142 extension counters and 346 exclusive ATMs. The bank has its ATM sharing arrangement with SBI, HDFC Bank, IDBI Bank, Indian Bank and UTI Bank offering more than 9,000 ATMs available for use of customers.

Its business turnover is Rs 49,000 crore comprising Rs 29,871 crore deposits and Rs19,150 crore advances.