APGVB to open more branches

The Andhra Pradesh Grameena Vikas Bank (APGVB), which was recently merged with five regional rural banks sponsored by the State Bank of India, is planning to increase its branch network.

APGVB currently has 485 branches spread across eight districts "� Srikakulam, Vizianagaram, Visakhapatnam, Khammam, Nalgonda, Mahabubnagar, Medak and Warangal.

The bank has licences to open 35 more branches in these districts, and we plan to expand our branch network by opening new branches, APGVB chairman A Anantha Krishna told mediapersons.

The bank's total business stood at Rs 3,949.64 crore with the deposits and advances accounting for Rs 2,188.95 crore and Rs1,760.69 crore respectively. At present, the bank has reserves to the tune of Rs 102.98 crore.