Andhra Banks eyes Rs 100 cr deposits

Andhra Bank is aiming for Rs 100 crore deposits during the AB deposit utsav. The one-month long deposit utsav began here on Wednesday.

"We have 79 branches covering three north coastal districts. During this deposit utsav period, the bank would conduct roadshows and customers meet in all its branches. Our target is to mobilise Rs 100 crore new deposits," K Suryanarayana, deputy general manager, Andhra Bank, told mediapersons.

Last fiscal, the zone collected Rs 240 crore new deposits. During the current year, it is targeting Rs 400 crore including the Rs 100 crore which it is planning to mobilise during the utsav period. This year, the bank is giving more thrust on advances to small and medium enterprises.

"During last fiscal, we sanctioned Rs 23 crore as loans to the small and medium enterprises sector, and this year our target is Rs 54 crore," he said.